Steven Madden’s (SHOO) “Market Perform” Rating Reiterated at Telsey Advisory Group

Steven Madden (NASDAQ:SHOO)‘s stock had its “market perform” rating reaffirmed by investment analysts at Telsey Advisory Group in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $50.00 price target on the textile maker’s stock. Telsey Advisory Group’s price target would suggest a potential upside of 12.94% from the company’s current price. Telsey Advisory Group also issued estimates for Steven Madden’s Q4 2024 earnings at $0.54 EPS, FY2024 earnings at $2.67 EPS, Q3 2025 earnings at $1.03 EPS, Q4 2025 earnings at $0.62 EPS and FY2025 earnings at $3.04 EPS.

A number of other equities research analysts have also weighed in on the stock. Wedbush reiterated a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a research note on Wednesday, August 7th. Citigroup increased their target price on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.43.

Steven Madden Trading Down 1.6 %

NASDAQ:SHOO traded down $0.70 during trading hours on Wednesday, reaching $44.27. 917,731 shares of the company traded hands, compared to its average volume of 709,535. The business’s 50-day moving average price is $46.41 and its two-hundred day moving average price is $44.28. The stock has a market capitalization of $3.20 billion, a P/E ratio of 18.84 and a beta of 1.08. Steven Madden has a 1 year low of $34.92 and a 1 year high of $50.01.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 earnings per share. As a group, equities analysts anticipate that Steven Madden will post 2.65 EPS for the current year.

Institutional Investors Weigh In On Steven Madden

Institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp boosted its stake in Steven Madden by 3.1% during the second quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock valued at $348,000 after buying an additional 248 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Steven Madden by 1.2% during the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock worth $1,720,000 after buying an additional 400 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Steven Madden by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock valued at $1,698,000 after purchasing an additional 484 shares during the last quarter. AlphaMark Advisors LLC grew its stake in shares of Steven Madden by 7.4% during the second quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker’s stock valued at $329,000 after buying an additional 535 shares during the last quarter. Finally, KBC Group NV increased its stake in Steven Madden by 34.1% in the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock worth $108,000 after purchasing an additional 561 shares during the period. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.