Steven Madden (NASDAQ:SHOO) Announces Earnings Results

Steven Madden (NASDAQ:SHOO) released its quarterly earnings data on Thursday. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02, Briefing.com reports. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The business had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. During the same period in the prior year, the firm posted $0.88 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Steven Madden updated its FY24 guidance to $2.62-2.67 EPS and its FY 2024 guidance to 2.620-2.670 EPS.

Steven Madden Price Performance

Shares of SHOO stock traded down $0.81 during midday trading on Friday, reaching $44.79. 779,621 shares of the company traded hands, compared to its average volume of 704,938. The firm’s 50 day simple moving average is $46.42 and its two-hundred day simple moving average is $44.13. The firm has a market cap of $3.25 billion, a PE ratio of 19.33 and a beta of 1.08. Steven Madden has a 1-year low of $32.71 and a 1-year high of $50.01.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.21 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.88%. Steven Madden’s dividend payout ratio is presently 35.74%.

Wall Street Analyst Weigh In

Several equities analysts have commented on SHOO shares. Wedbush reiterated a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a research note on Wednesday, August 7th. Citigroup boosted their price objective on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday. Telsey Advisory Group reissued a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Thursday. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Finally, Piper Sandler restated a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a research report on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $45.43.

About Steven Madden

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.