FY2017 Earnings Estimate for Steven Madden, Ltd. (NASDAQ:SHOO) Issued By Jefferies Group
Steven Madden, Ltd. (NASDAQ:SHOO) – Equities research analysts at Jefferies Group lifted their FY2017 earnings per share estimates for shares of Steven Madden in a report released on Tuesday. Jefferies Group analyst R. Konik now anticipates that the textile maker will earn $2.24 per share for the year, up from their prior forecast of $2.18. Jefferies Group has a “Hold” rating and a $39.00 price target on the stock. Jefferies Group also issued estimates for Steven Madden’s FY2018 earnings at $2.36 EPS.
Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The company had revenue of $374.15 million during the quarter, compared to analyst estimates of $355.22 million. During the same quarter last year, the business posted $0.42 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis.
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Several other analysts have also recently issued reports on the stock. BidaskClub raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Tuesday, June 27th. Piper Jaffray Companies set a $41.00 price target on shares of Steven Madden and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Citigroup Inc. increased their price target on shares of Steven Madden from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Finally, Morgan Stanley increased their price target on shares of Steven Madden from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 6th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Steven Madden presently has an average rating of “Buy” and a consensus price target of $43.00.
Shares of Steven Madden (NASDAQ SHOO) traded down 0.97% during midday trading on Wednesday, reaching $40.85. 438,279 shares of the company were exchanged. Steven Madden has a 52 week low of $32.30 and a 52 week high of $42.65. The firm has a 50-day moving average of $39.40 and a 200 day moving average of $37.79. The firm has a market capitalization of $2.25 billion, a P/E ratio of 19.67 and a beta of 0.53.
In other Steven Madden news, insider Karla Frieders sold 60,000 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $38.99, for a total value of $2,339,400.00. Following the transaction, the insider now directly owns 148,216 shares in the company, valued at $5,778,941.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rose Peabody Lynch sold 2,240 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $39.32, for a total transaction of $88,076.80. Following the completion of the transaction, the director now owns 4,754 shares in the company, valued at $186,927.28. The disclosure for this sale can be found here. Insiders sold 122,740 shares of company stock worth $4,832,677 over the last quarter. 2.20% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Steven Madden during the fourth quarter valued at approximately $26,293,000. Parametrica Management Ltd bought a new position in shares of Steven Madden during the first quarter valued at approximately $250,000. Fox Run Management L.L.C. bought a new position in shares of Steven Madden during the first quarter valued at approximately $1,122,000. Louisiana State Employees Retirement System raised its position in shares of Steven Madden by 0.5% in the first quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the textile maker’s stock valued at $848,000 after buying an additional 100 shares in the last quarter. Finally, Glen Harbor Capital Management LLC raised its position in shares of Steven Madden by 17.5% in the first quarter. Glen Harbor Capital Management LLC now owns 4,114 shares of the textile maker’s stock valued at $159,000 after buying an additional 612 shares in the last quarter. Institutional investors own 91.11% of the company’s stock.
About Steven Madden
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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