Steven Madden (NASDAQ:SHOO – Get Free Report) announced its quarterly earnings results on Wednesday. The textile maker reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09, Briefing.com reports. Steven Madden had a return on equity of 21.61% and a net margin of 8.67%. The company had revenue of $552.38 million during the quarter, compared to analysts’ expectations of $525.04 million. During the same period in the prior year, the company earned $0.50 EPS. Steven Madden’s revenue was up 19.1% compared to the same quarter last year. Steven Madden updated its FY24 guidance to $2.55-2.65 EPS and its FY 2024 guidance to 2.550-2.650 EPS.
Steven Madden Price Performance
NASDAQ SHOO traded up $0.71 during trading on Thursday, hitting $40.13. 268,176 shares of the company’s stock traded hands, compared to its average volume of 792,781. The stock has a fifty day moving average of $41.22 and a two-hundred day moving average of $39.96. Steven Madden has a 12-month low of $29.92 and a 12-month high of $45.63. The firm has a market cap of $2.94 billion, a P/E ratio of 17.49 and a beta of 1.15.
Steven Madden Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 10th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.84 annualized dividend and a yield of 2.09%. Steven Madden’s payout ratio is 36.52%.
Insider Buying and Selling at Steven Madden
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on SHOO shares. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Piper Sandler initiated coverage on shares of Steven Madden in a research report on Wednesday, February 14th. They set a “neutral” rating and a $45.00 target price on the stock. Wedbush boosted their price objective on Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Jefferies Financial Group reaffirmed a “hold” rating and set a $40.00 target price on shares of Steven Madden in a research report on Thursday, January 4th. Finally, Citigroup upped their price target on shares of Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $41.38.
Read Our Latest Stock Report on Steven Madden
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.
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