Telsey Advisory Group Reaffirms Market Perform Rating for Steven Madden (NASDAQ:SHOO)

Telsey Advisory Group reaffirmed their market perform rating on shares of Steven Madden (NASDAQ:SHOO) in a research report released on Wednesday,Benzinga reports. Telsey Advisory Group currently has a $50.00 price objective on the textile maker’s stock. 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.

SHOO has been the subject of several other research reports. Citigroup lifted their target price on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Piper Sandler restated a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research report on Friday, August 23rd. Finally, Wedbush restated a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.43.

Steven Madden Stock Performance

NASDAQ SHOO opened at $44.27 on Wednesday. The company has a market capitalization of $3.20 billion, a PE ratio of 18.84 and a beta of 1.08. The company has a 50-day simple moving average of $46.42 and a 200 day simple moving average of $44.28. Steven Madden has a 52-week low of $34.92 and a 52-week high of $50.01.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm 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 company’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company earned $0.88 earnings per share. As a group, analysts forecast that Steven Madden will post 2.65 EPS for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 annualized dividend and a yield of 1.90%. Steven Madden’s payout ratio is presently 35.74%.

Institutional Investors Weigh In On Steven Madden

Hedge funds have recently made changes to their positions in the business. Gladius Capital Management LP bought a new stake in shares of Steven Madden in the 3rd quarter worth approximately $36,000. Blue Trust Inc. lifted its holdings in shares of Steven Madden by 9,166.7% in the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after acquiring an additional 825 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Steven Madden in the 3rd quarter worth approximately $59,000. GAMMA Investing LLC lifted its holdings in shares of Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after acquiring an additional 593 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Steven Madden during the 1st quarter valued at $81,000. 99.88% of the stock is currently owned by institutional investors.

About Steven Madden

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.