Steven Madden (NASDAQ:SHOO) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Steven Madden (NASDAQ:SHOO) released its quarterly earnings data on Thursday. The textile maker reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02, Briefing.com reports. The company had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business posted $0.88 EPS. 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 Stock Down 1.4 %

SHOO stock traded down $0.65 during midday trading on Friday, reaching $44.95. 744,158 shares of the company’s stock traded hands, compared to its average volume of 704,775. The company has a 50-day simple moving average of $46.42 and a two-hundred day simple moving average of $44.13. The company has a market cap of $3.26 billion, a price-to-earnings 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 annualized dividend and a yield of 1.87%. Steven Madden’s payout ratio is 35.74%.

Analyst Upgrades and Downgrades

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