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Steve Madden Ltd (SHOO - Free Report) is trading like a rock star, recently surging higher with the market for a fresh multi-year high. With another solid earnings surprise from early May and bullish growth projection, this Zacks #2 rank stock is a top momentum pick.

Although Steve Madden has been ripping higher for most of the last year, shares got an extra boost on May 5 when the company reported strong Q1 results that came in ahead of expectations.

First-Quarter Results

Revenue for the period was up 25% from last year to $169 million. Earnings also came in strong at 42 cents, 8% ahead of the Zacks Consensus Estimate, where the company has an average earnings surprise of 12% over the last four quarters.

The good quarter was driven by a strong showing in retail-comparable sales, up an impressive 12% from last year.


We saw some pretty solid movement in estimates off the good quarter, with the current year adding 14 cents to $2.18. The next-year estimate is pegged at $2.60, a bullish 19% growth projection.


But in spite of the gains, SHOO still has an attractive valuation, trading with a PEG ratio just below the traditional benchmark of 1 for value.

12-Month Chart

On the chart, shares recently surged into a new all-time high on the good quarter, take a look below.

This Week's Momentum Zacks Rank Buy Stocks

Robbins & Myers, Inc. (RBN) recently jumped out of an extended period of consolidation and into a new all-time high after reporting solid Q1 results that met expectations. Estimates have since risen, providing more momentum for this Zacks #1 rank stock. Read Full Article.

Wright Express Corp (RBN) recently rebounded from a key trend line to move back within striking distance of its recent 52-week high at $53.39. With estimates on the rise off another strong quarter, this Zacks #1 rank stock is on the fast track to momentum. Read Full Article.

Discover Financial Services (DFS) just charged into a new multi-year high, gaining traction on an impressive 51% Q1 earnings surprise. Estimates have since jumped higher, providing more upward momentum for this Zacks #1 rank stock. Read Full Article.

Coach, Inc. (COH) continues to trade strong in the recently volatile market, hitting a fresh 52-week high on the heels of another earnings surprise from late April. With estimates on the rise and a bullish growth projection, this Zacks #2 rank stock has momentum in the bag. Read Full Article.

Michael Vodicka is the Momentum Stock Strategist for He is also the Editor in charge of the Zacks Momentum Trader Service.

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