Shoe and apparel company Steven Madden (NASDAQ:SHOO) will be reporting earnings tomorrow morning. Here’s what you need to know.
Steven Madden met analysts’ revenue expectations last quarter, reporting revenues of $523.6 million, up 17.6% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ operating margin estimates but a miss of analysts’ Wholesale revenue estimates.
Is Steven Madden a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Steven Madden’s revenue to grow 11.2% year on year to $614.4 million, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.89 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Steven Madden has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2% on average.
Looking at Steven Madden’s peers in the footwear segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Nike’s revenues decreased 10.4% year on year, meeting analysts’ expectations, and Deckers reported revenues up 20.1%, topping estimates by 9%. Nike traded down 6.8% following the results while Deckers was up 10.6%.
Read our full analysis of Nike’s results here and Deckers’s results here.
There has been positive sentiment among investors in the footwear segment, with share prices up 3.3% on average over the last month. Steven Madden is down 3.5% during the same time and is heading into earnings with an average analyst price target of $46.33 (compared to the current share price of $45.41).
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