Steven Madden (SHOO) Receives a Hold from Susquehanna

Susquehanna analyst Sam Poser maintained a Hold rating on Steven Madden (SHOOResearch Report) today and set a price target of $24.00. The company’s shares closed last Wednesday at $22.69.

According to TipRanks.com, Poser is a 1-star analyst with an average return of -0.3% and a 50.9% success rate. Poser covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, Canada Goose Holdings, and Wolverine World Wide.

The word on The Street in general, suggests a Hold analyst consensus rating for Steven Madden with a $24.00 average price target, which is a 4.7% upside from current levels. In a report issued on July 22, UBS also initiated coverage with a Hold rating on the stock with a $23.00 price target.

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Based on Steven Madden’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $359 million and GAAP net loss of $17.45 million. In comparison, last year the company earned revenue of $416 million and had a net profit of $34.53 million.

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Steven Madden Ltd. engages in the design, marketing, and sale of fashion-forward footwear for women, men, and children. It operates through the following segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost, and Licensing. The Wholesale Footwear segment includes branded and private label women’s, men’s, girl’s and children’s footwear. The Wholesale Accessories segment comprises of branded and private label handbags; belts and small leather goods; and cold weather and selected other fashion accessories. The Retail segment distributes branded women’s, men’s and children’s footwear, accessories, and licensed products to consumers. The First Cost segment earns commissions and design fees for serving as a buying agent of footwear products to mass-market merchandisers, mid-tier department stores,and other retailers with respect to their purchase of footwear. The Licensing segment licenses its trademarks for use in connection with the manufacture, marketing, and sale of outerwear, hosiery, active wear, sleepwear, jewellery, watches, hair accessories, umbrellas, bedding, luggage, and men’s leather accessories. The company was founded by Steven L. Madden on July 9, 1990 and is headquartered in Long Island City, NY.