Q3 2018 EPS Estimates for Steven Madden, Ltd. Boosted by Analyst (SHOO)
Steven Madden, Ltd. (NASDAQ:SHOO) – Equities researchers at Wedbush boosted their Q3 2018 earnings estimates for Steven Madden in a research report issued to clients and investors on Thursday, October 25th. Wedbush analyst C. Svezia now forecasts that the textile maker will post earnings of $0.61 per share for the quarter, up from their previous estimate of $0.61. Wedbush has a “Neutral” rating and a $31.00 price objective on the stock. Wedbush also issued estimates for Steven Madden’s Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.77 EPS and FY2019 earnings at $1.85 EPS.
Several other research firms also recently weighed in on SHOO. BidaskClub downgraded shares of Steven Madden from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 29th. Zacks Investment Research raised shares of Steven Madden from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. ValuEngine downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $41.33 price objective on shares of Steven Madden in a report on Monday, August 13th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $35.47.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Tuesday, July 31st. The textile maker reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $395.80 million during the quarter, compared to the consensus estimate of $390.57 million. Steven Madden had a net margin of 8.17% and a return on equity of 17.01%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 earnings per share.
In other Steven Madden news, insider Karla Frieders sold 7,000 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $56.89, for a total value of $398,230.00. Following the sale, the insider now directly owns 75,280 shares in the company, valued at $4,282,679.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Awadhesh K. Sinha sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $57.50, for a total transaction of $230,000.00. Following the completion of the sale, the chief operating officer now owns 57,845 shares in the company, valued at $3,326,087.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,500 shares of company stock worth $771,405. 1.77% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. raised its position in Steven Madden by 3.9% in the third quarter. Russell Investments Group Ltd. now owns 68,825 shares of the textile maker’s stock worth $3,673,000 after acquiring an additional 2,604 shares in the last quarter. Strs Ohio raised its position in Steven Madden by 470.2% in the third quarter. Strs Ohio now owns 26,800 shares of the textile maker’s stock worth $1,417,000 after acquiring an additional 22,100 shares in the last quarter. Seven Eight Capital LP bought a new stake in Steven Madden in the third quarter worth about $1,132,000. Moody Aldrich Partners LLC raised its holdings in Steven Madden by 143.6% during the 2nd quarter. Moody Aldrich Partners LLC now owns 109,525 shares of the textile maker’s stock worth $5,816,000 after buying an additional 64,571 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Steven Madden by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 708,870 shares of the textile maker’s stock worth $37,639,000 after buying an additional 12,247 shares during the period. Hedge funds and other institutional investors own 63.89% of the company’s stock.
About Steven Madden
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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