Steven Madden stock downgraded a day before earnings, as analyst warns of guidance cut [MarketWatch]
Steven Madden, Ltd. (SHOO)
Last steven madden, ltd. earnings: 2/27 06:59 am
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Source: MarketWatch
Shares of Steven Madden Ltd. fell Tuesday, after Wedbush analyst Tom Nikic backed away from his yearlong bullish stance one day before the footwear, clothing and accessories company reports quarterly results, saying he expects the company to lower its earnings outlook as the selling environment has deteriorated. Nikic cut his rating on the stock to neutral, after being at outperform since October 2021. He lowered his price target by 33%, to $29 from $43, with the new target nearly 1% below current prices. The stock SHOO, lost 0.5% in morning trading, after rallying 5.6% the past week leading up to results. “Our move to the sidelines is due to the deteriorating macro environment, difficult compares, high exposure to the challenging U.S. wholesale channel and a highly discretionary category focus that may come under pressure now that consumers have ‘refreshed' their closets (amidst the COVID reopening in late-2021/early-2022),” Nikic wrote in a note to clients. Nikic's concerns
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News
- Steve Madden Announces First Quarter 2024 Earnings Release DateGlobeNewswire
- Steven Madden (SHOO) Rides on Strategic Growth, Market Success [Yahoo! Finance]Yahoo! Finance
- Steven Madden, Ltd. (NASDAQ: SHOO) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Steven Madden (SHOO) Q4 Earnings Beat, Revenues Increase Y/Y [Yahoo! Finance]Yahoo! Finance
- Steven Madden, Ltd. (NASDAQ: SHOO) had its price target raised by analysts at Citigroup Inc. from $41.00 to $43.00. They now have a "neutral" rating on the stock.MarketBeat
SHOO
Earnings
- 2/28/24 - Beat
SHOO
Sec Filings
- 4/10/24 - Form ARS
- 4/10/24 - Form DEFA14A
- 4/10/24 - Form DEF
- SHOO's page on the SEC website