Sterne Agee Reiterates Buy Rating On Steve Madden

According to Sterne Agee, Steve Madden SHOO Buy rating is reiterated. Sterne Agee said that it is forecasting EPS of $0.53 on revenue of $190.5M versus EPS of $0.47 and revenue of $158.7M in 2Q10. “We maintain our FY11 EPS estimate of $2.22 as compared to management's guidance of $2.03-$2.10. Our estimates include $0.02 accretion from the Topline acquisition and $0.05 from the Cejon acquisition. Our FY11 revenue estimate of $886.8M includes ~$63M in 2H1.” Steve Madden closed yesterday at $39.66.