Steven Madden (NASDAQ:SHOO) Updates FY24 Earnings Guidance

Steven Madden (NASDAQ:SHOO) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.55-2.65 for the period, compared to the consensus EPS estimate of $2.64. The company issued revenue guidance of +11-13% yr/yr to $2.19-2.23 billion, compared to the consensus revenue estimate of $2.23 billion. Steven Madden also updated its FY 2024 guidance to 2.550-2.650 EPS.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SHOO. Telsey Advisory Group reaffirmed a market perform rating and issued a $44.00 price target on shares of Steven Madden in a research report on Wednesday. Wedbush reiterated a neutral rating and issued a $41.00 price target on shares of Steven Madden in a report on Friday, July 26th. Finally, BTIG Research raised their price objective on Steven Madden from $50.00 to $53.00 and gave the company a buy rating in a research report on Thursday, June 6th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $43.38.

Steven Madden Trading Down 4.4 %

Shares of SHOO stock traded down $1.90 during trading hours on Friday, reaching $41.61. 766,874 shares of the company’s stock were exchanged, compared to its average volume of 788,322. The stock has a market cap of $3.05 billion, a PE ratio of 17.19 and a beta of 1.09. The stock’s fifty day moving average price is $43.58 and its two-hundred day moving average price is $42.30. Steven Madden has a 1 year low of $30.35 and a 1 year high of $47.24.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The business had revenue of $523.60 million during the quarter, compared to analysts’ expectations of $515.15 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the company posted $0.47 earnings per share. On average, equities analysts expect that Steven Madden will post 2.62 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 13th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, September 13th. Steven Madden’s dividend payout ratio is presently 34.71%.

Insider Activity at Steven Madden

In other Steven Madden news, insider Karla Frieders sold 10,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $44.91, for a total transaction of $449,100.00. Following the sale, the insider now directly owns 86,658 shares of the company’s stock, valued at approximately $3,891,810.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Karla Frieders sold 10,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $44.91, for a total value of $449,100.00. Following the completion of the transaction, the insider now directly owns 86,658 shares in the company, valued at approximately $3,891,810.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rose Peabody Lynch sold 1,600 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total transaction of $71,056.00. Following the sale, the director now directly owns 21,303 shares in the company, valued at $946,066.23. The disclosure for this sale can be found here. Insiders have sold a total of 14,600 shares of company stock worth $651,586 over the last quarter. Insiders own 2.08% of the company’s stock.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.