Canaccord Genuity Reiterates a 'Buy' on Steven Madden (SHOO); Expect Strong Q4 From Extended Fashion Season
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Price: $46.08 +0.81%
Rating Summary:
15 Buy, 4 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
15 Buy, 4 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Steven Madden (NASDAQ: SHOO) price target of $47.00.
Analyst, Camilo Lyon, said, "Our Q4 sales/EPS estimates of $271M/$0.55 are above consensus ($266M/$0.54). We believe SHOO’s fashion footwear benefitted from the warmer winter in which shoppers delayed purchases of cold weather footwear, thus extending the fashion boot season. Gross margins also likely benefitted as fewer markdowns were required to sell through inventory. With a solid spring ’12 line up, the accretive acquisition of its Canadian distributor and an SG&A cushion, we believe the company is well positioned for a strong 2012."
For an analyst ratings summary and ratings history on Steven Madden click here. For more ratings news on Steven Madden click here.
Shares of Steven Madden closed at $43.31 yesterday.
Analyst, Camilo Lyon, said, "Our Q4 sales/EPS estimates of $271M/$0.55 are above consensus ($266M/$0.54). We believe SHOO’s fashion footwear benefitted from the warmer winter in which shoppers delayed purchases of cold weather footwear, thus extending the fashion boot season. Gross margins also likely benefitted as fewer markdowns were required to sell through inventory. With a solid spring ’12 line up, the accretive acquisition of its Canadian distributor and an SG&A cushion, we believe the company is well positioned for a strong 2012."
For an analyst ratings summary and ratings history on Steven Madden click here. For more ratings news on Steven Madden click here.
Shares of Steven Madden closed at $43.31 yesterday.
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