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

Steven Madden (NASDAQ:SHOO) posted its earnings results 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. 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 for the quarter, compared to the consensus estimate of $607.89 million. During the same period in the previous year, the business earned $0.88 earnings per share. Steven Madden’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 traded down $0.99 during trading hours on Friday, hitting $44.61. 1,000,207 shares of the company were exchanged, compared to its average volume of 705,955. The firm has a fifty day simple moving average of $46.42 and a 200-day simple moving average of $44.13. The company has a market capitalization of $3.24 billion, a PE ratio of 19.33 and a beta of 1.08. Steven Madden has a one year low of $32.71 and a one year high of $50.01.

Steven Madden Dividend Announcement

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

Analyst Upgrades and Downgrades

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