SHOO Steven Madden Ltd

Steve Madden Ltd (SHOO) 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.

Estimates

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.

Valuation

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.

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