Jefferies Group Equities Analysts Decrease Earnings Estimates for Steven Madden, Ltd. (SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) – Stock analysts at Jefferies Group cut their Q4 2017 EPS estimates for Steven Madden in a research note issued to investors on Tuesday, according to Zacks Investment Research. Jefferies Group analyst R. Konik now forecasts that the textile maker will post earnings of $0.48 per share for the quarter, down from their prior forecast of $0.49. Jefferies Group has a “Hold” rating and a $39.00 price objective on the stock.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The business had revenue of $441.19 million during the quarter, compared to the consensus estimate of $441.03 million. During the same quarter last year, the company earned $0.74 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year.

A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Steven Madden from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. Wedbush reiterated a “buy” rating and issued a $53.00 target price on shares of Steven Madden in a research note on Tuesday, December 19th. Susquehanna Bancshares reiterated a “buy” rating and issued a $48.00 target price on shares of Steven Madden in a research note on Monday, October 23rd. Telsey Advisory Group cut their target price on Steven Madden from $45.00 to $44.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 1st. Finally, Piper Jaffray Companies set a $43.00 target price on Steven Madden and gave the company a “buy” rating in a research note on Tuesday, October 31st. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.21.

Steven Madden (NASDAQ SHOO) traded up $0.70 during mid-day trading on Wednesday, hitting $48.30. 459,500 shares of the stock were exchanged, compared to its average volume of 491,875. Steven Madden has a twelve month low of $33.50 and a twelve month high of $48.80. The firm has a market capitalization of $2,850.00, a P/E ratio of 23.00, a P/E/G ratio of 1.81 and a beta of 0.51.

In related news, Director Richard P. Randall sold 2,000 shares of Steven Madden stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $38.05, for a total transaction of $76,100.00. Following the sale, the director now directly owns 22,809 shares in the company, valued at $867,882.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Amelia Varela sold 25,000 shares of Steven Madden stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the sale, the president now owns 113,007 shares in the company, valued at $4,834,439.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,000 shares of company stock worth $1,460,100. Company insiders own 2.06% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP grew its holdings in Steven Madden by 69.6% during the third quarter. GSA Capital Partners LLP now owns 13,991 shares of the textile maker’s stock worth $606,000 after acquiring an additional 5,740 shares during the period. Algert Global LLC acquired a new position in Steven Madden during the third quarter worth about $455,000. Sterling Capital Management LLC grew its holdings in Steven Madden by 15.8% during the third quarter. Sterling Capital Management LLC now owns 43,886 shares of the textile maker’s stock worth $1,900,000 after acquiring an additional 5,984 shares during the period. California Public Employees Retirement System grew its holdings in Steven Madden by 4.9% during the third quarter. California Public Employees Retirement System now owns 133,655 shares of the textile maker’s stock worth $5,787,000 after acquiring an additional 6,255 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in Steven Madden during the third quarter worth about $639,000. 92.98% of the stock is currently owned by hedge funds and other institutional investors.

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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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