Steven Madden (NASDAQ:SHOO) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS
Steven Madden (NASDAQ:SHOO) released its quarterly earnings data on Wednesday. The textile maker reported ($0.19) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.08, MarketWatch Earnings reports. Steven Madden had a return on equity of 10.70% and a net margin of 2.56%. The company had revenue of $142.80 million for the quarter, compared to the consensus estimate of $181.48 million. During the same quarter last year, the business posted $0.47 EPS. Steven Madden’s revenue for the quarter was down 67.9% on a year-over-year basis.
Shares of SHOO stock traded down $0.68 during mid-day trading on Friday, hitting $21.73. The company’s stock had a trading volume of 4,335 shares, compared to its average volume of 654,457. The company’s fifty day simple moving average is $23.11 and its 200-day simple moving average is $27.68. Steven Madden has a 52 week low of $16.38 and a 52 week high of $44.79. The company has a market cap of $1.89 billion, a PE ratio of 54.66, a P/E/G ratio of 2.71 and a beta of 1.14.
SHOO has been the topic of several recent research reports. Citigroup cut their price objective on Steven Madden from $28.00 to $23.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Wells Fargo & Co downgraded Steven Madden from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $26.00 to $18.00 in a report on Thursday, May 14th. Piper Sandler cut their price objective on Steven Madden from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday. Susquehanna Bancshares reissued a “neutral” rating and set a $22.00 price objective (down previously from $38.00) on shares of Steven Madden in a report on Monday, April 6th. Finally, UBS Group initiated coverage on Steven Madden in a research report on Wednesday, July 22nd. They set a “neutral” rating and a $23.00 target price for the company. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $23.20.
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.
See Also: Net Margin
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