Steven Madden, Ltd. (SHOO) Issues FY13 Earnings Guidance
Steven Madden, Ltd. (SHOO) updated its FY13 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.95-3.05 for the period, compared to the Thomson Reuters consensus estimate of $3.07. The company issued revenue guidance of +6-8% to ~$1.30-1.325 billion, compared to the consensus revenue estimate of $1.37 billion.
On a related note, analysts at Goldman Sachs initiated coverage on shares of Steven Madden in a research note to investors on Thursday, December 6th. They set a sell rating and a $35.00 price target on the stock.
Steven Madden, Ltd. (SHOO) opened at 44.90 on Tuesday. Steven Madden, Ltd. (SHOO) has a 52-week low of $31.25 and a 52-week high of $47.77. The stock’s 50-day moving average is currently $45.. The company has a market cap of $2.061 billion and a price-to-earnings ratio of 17.81.
Steven Madden last issued its quarterly earnings data on Tuesday, February 26th. The company reported $0.73 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.71 by $0.02. The company had revenue of $315.50 million for the quarter, compared to the consensus estimate of $314.38 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Steven Madden has set its FY13 guidance at $2.95-3.05 EPS. On average, analysts predict that Steven Madden, Ltd. (SHOO) will post $2.74 earnings per share for the current fiscal year.
Steven Madden, Ltd. designs, sources, markets and sells footwear for women, men and children. The Company also designs, sources, markets and retails name brand and private label fashion handbags and accessories, through its Accessories Division.
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