Steven Madden (NASDAQ:SHOO) Announces Earnings Results

Steven Madden (NASDAQ:SHOO) released its quarterly earnings results on Thursday. The textile maker reported $0.91 earnings per share 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 company had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. Steven Madden’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 earnings per share. 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 1.8 %

Shares of SHOO stock traded down $0.81 during mid-day trading on Friday, reaching $44.79. The company’s stock had a trading volume of 779,621 shares, compared to its average volume of 704,938. The company’s 50 day simple moving average is $46.42 and its 200-day simple moving average is $44.13. Steven Madden has a 12-month low of $32.71 and a 12-month high of $50.01. The firm has a market capitalization of $3.25 billion, a PE ratio of 19.33 and a beta of 1.08.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s payout ratio is currently 35.74%.

Analyst Upgrades and Downgrades

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

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.