Steven Madden (NASDAQ:SHOO) Price Target Cut to $38.00 by Analysts at Citigroup

Steven Madden (NASDAQ:SHOO) had its price target reduced by Citigroup from $45.00 to $38.00 in a report published on Tuesday,Benzinga reports. Citigroup currently has a neutral rating on the textile maker’s stock.

Several other equities analysts have also weighed in on the stock. Piper Sandler reduced their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Telsey Advisory Group dropped their price target on shares of Steven Madden from $50.00 to $44.00 and set a “market perform” rating on the stock in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Thursday, December 5th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Steven Madden currently has an average rating of “Hold” and a consensus price target of $43.33.

Steven Madden Trading Down 2.7 %

NASDAQ:SHOO opened at $37.29 on Tuesday. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 15.87 and a beta of 1.07. The firm’s fifty day simple moving average is $42.44 and its 200 day simple moving average is $44.21. Steven Madden has a twelve month low of $36.90 and a twelve month 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, beating the consensus estimate of $0.89 by $0.02. The business had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. On average, analysts predict that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Friday, December 13th. Steven Madden’s payout ratio is currently 35.74%.

Institutional Investors Weigh In On Steven Madden

Several hedge funds and other institutional investors have recently modified their holdings of SHOO. Pacer Advisors Inc. bought a new stake in shares of Steven Madden in the 4th quarter worth about $72,795,000. FMR LLC boosted its holdings in shares of Steven Madden by 8,180.4% in the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock valued at $26,214,000 after buying an additional 528,619 shares during the period. Weiss Asset Management LP acquired a new position in shares of Steven Madden in the 3rd quarter valued at about $12,558,000. Barclays PLC boosted its holdings in shares of Steven Madden by 286.9% in the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock valued at $6,819,000 after buying an additional 103,226 shares during the period. Finally, Edgestream Partners L.P. boosted its holdings in shares of Steven Madden by 269.7% in the 3rd quarter. Edgestream Partners L.P. now owns 134,716 shares of the textile maker’s stock valued at $6,600,000 after buying an additional 98,274 shares during the period. Institutional investors own 99.88% of the company’s stock.

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.