Steven Madden (NASDAQ:SHOO) Issues FY24 Earnings Guidance

Steven Madden (NASDAQ:SHOO) updated its FY24 earnings guidance on Wednesday. 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 Ratings Changes

A number of equities research analysts recently commented on the stock. BTIG Research raised their price objective on shares of Steven Madden from $50.00 to $53.00 and gave the company a buy rating in a research report on Thursday, June 6th. Telsey Advisory Group restated a market perform rating and issued a $44.00 price objective on shares of Steven Madden in a research report on Thursday, July 25th. Finally, Wedbush restated a neutral rating and issued a $41.00 price objective on shares of Steven Madden in a research report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $43.38.

Steven Madden Trading Up 0.6 %

SHOO stock opened at $44.46 on Wednesday. The firm has a 50 day moving average of $43.49 and a 200-day moving average of $42.27. Steven Madden has a 12-month low of $30.35 and a 12-month high of $45.91. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 18.37 and a beta of 1.09.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. Steven Madden had a net margin of 8.65% and a return on equity of 22.68%. The company had revenue of $552.38 million during the quarter, compared to the consensus estimate of $525.04 million. During the same period last year, the firm earned $0.50 EPS. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. Sell-side analysts forecast that Steven Madden will post 2.62 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Monday, June 10th were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 10th. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. Steven Madden’s dividend payout ratio is currently 34.71%.

Insider Buying and Selling

In related news, Director Rose Peabody Lynch sold 1,600 shares of Steven Madden stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 21,303 shares in the company, valued at approximately $946,066.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Karla Frieders sold 10,000 shares of Steven Madden stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $44.91, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rose Peabody Lynch sold 1,600 shares of Steven Madden stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total value of $71,056.00. Following the transaction, the director now owns 21,303 shares of the company’s stock, valued at $946,066.23. The disclosure for this sale can be found here. Insiders sold 14,600 shares of company stock worth $651,586 in the last ninety days. 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.