Telsey Advisory raised the firm’s price target on Steven Madden to $44 from $39 and keeps a Market Perform rating on the shares. While Q4 revenue and earnings beat consensus estimate, the gross and operating margins fell shy of expectations, the analyst tells investors. Further, while FY24 revenue guidance was higher than expectations, EPS guidance fell short, the firm adds. Telsey continues to see the company’s ability to test, react to trends, and chase demand in-season as a competitive advantage but, against an uneven wholesale environment and below-consensus guide, the firm maintains its Market Perform rating.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on SHOO:
- Steven Madden sees FY24 EPS $2.55-$2.65, consensus $2.69
- Steven Madden reports Q4 adjusted EPS 61c, consensus 57c
- Steve Madden Announces Fourth Quarter and Full Year 2023 Results
- SHOO Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Williams Trading downgrades Steven Madden on DTC business concerns
