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Strength Seen in Steven Madden (SHOO): Can Its 6.4% Jump Turn into More Strength?
Steven Madden (SHOO - Free Report) shares soared 6.4% in the last trading session to close at $35.26. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.6% loss over the past four weeks.
Steven Madden is well poised to tap the positive trends in the fashion world, thanks to its sturdy digital efforts and other robust strategies, including international business expansion and brand enhancement. E-commerce business remains a bright spot for Steven Madden. Solid gains from increased investment in digital marketing and robust consumer centric approach have been contributing to its performance.
This footwear and accessories retailer is expected to post quarterly earnings of $0.57 per share in its upcoming report, which represents a year-over-year change of +18.8%. Revenues are expected to be $493.4 million, up 24% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Steven Madden, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SHOO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Steven Madden is part of the Zacks Shoes and Retail Apparel industry. Rocky Brands (RCKY - Free Report) , another stock in the same industry, closed the last trading session 4% higher at $35.36. RCKY has returned -9% in the past month.
Rocky Brands' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.69. Compared to the company's year-ago EPS, this represents a change of -30.3%. Rocky Brands currently boasts a Zacks Rank of #2 (Buy).