Needham analyst Tom Nikic has maintained their neutral stance on SHOO stock, giving a Hold rating today.
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Tom Nikic has given his Hold rating due to a combination of factors impacting Steven Madden’s performance. The company’s recent quarterly results were disappointing, reflecting a tough macroeconomic environment where tariffs are not only increasing costs but also dampening demand from both wholesale and direct-to-consumer channels. Although there is a slight upward revision in earnings estimates, attributed to better-than-expected tariff mitigation efforts, the overall external challenges remain significant. The revenue growth for the quarter was lower than expected, primarily due to a decline in organic sales despite the positive impact from the Kurt Geiger acquisition.
Furthermore, the company’s earnings per share were in line with market expectations, but the lack of forward guidance due to ongoing macroeconomic uncertainties adds to the cautious outlook. These factors combined lead to a Hold rating, as the potential for growth is tempered by the prevailing economic headwinds and the uncertainty surrounding tariff impacts.
According to TipRanks, Nikic is a 4-star analyst with an average return of 8.3% and a 49.69% success rate. Nikic covers the Consumer Cyclical sector, focusing on stocks such as Foot Locker, PVH, and Steven Madden.
In another report released today, Telsey Advisory also maintained a Hold rating on the stock with a $24.00 price target.