Steven Madden, Ltd. to Post FY2018 Earnings of $2.40 Per Share, Jefferies Group Forecasts (SHOO)
Steven Madden, Ltd. (NASDAQ:SHOO) – Equities researchers at Jefferies Group boosted their FY2018 earnings estimates for shares of Steven Madden in a research note issued to investors on Tuesday. Jefferies Group analyst R. Konik now anticipates that the textile maker will post earnings per share of $2.40 for the year, up from their previous forecast of $2.35. Jefferies Group currently has a “Hold” rating and a $39.00 price objective on the stock.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate 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 analyst estimates of $441.03 million. During the same quarter last year, the business earned $0.74 earnings per share. Steven Madden’s quarterly revenue was up 8.0% compared to the same quarter last year.
Steven Madden (NASDAQ SHOO) traded up $0.25 during mid-day trading on Thursday, reaching $45.65. 590,300 shares of the company’s stock traded hands, compared to its average volume of 614,067. Steven Madden has a fifty-two week low of $33.50 and a fifty-two week high of $47.55. The company has a market capitalization of $2,683.29, a price-to-earnings ratio of 21.64, a P/E/G ratio of 1.78 and a beta of 0.51.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Riverhead Capital Management LLC increased its position in Steven Madden by 97.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after purchasing an additional 1,262 shares during the period. Fortaleza Asset Management Inc. purchased a new position in shares of Steven Madden in the 3rd quarter worth approximately $158,000. First Quadrant L P CA purchased a new position in shares of Steven Madden in the 3rd quarter worth approximately $191,000. Worth Venture Partners LLC purchased a new position in shares of Steven Madden in the 3rd quarter worth approximately $205,000. Finally, Public Employees Retirement System of Ohio grew its position in shares of Steven Madden by 9.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock worth $199,000 after buying an additional 415 shares during the last quarter. 92.98% of the stock is currently owned by institutional investors and hedge funds.
In other Steven Madden news, President Amelia Varela sold 25,000 shares of the firm’s 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 transaction, the president now owns 113,007 shares of the company’s stock, valued at approximately $4,834,439.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard P. Randall sold 2,000 shares of the firm’s 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 transaction, the director now directly owns 22,809 shares in the company, valued at approximately $867,882.45. The disclosure for this sale can be found here. Insiders have sold a total of 34,000 shares of company stock valued at $1,460,100 in the last quarter. 2.06% of the stock is currently owned by company insiders.
Steven Madden Company Profile
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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