Steven Madden, Ltd. (NASDAQ:SHOO) to Issue $0.21 Quarterly Dividend

Steven Madden, Ltd. (NASDAQ:SHOO) announced a quarterly dividend on Monday, December 9th,Zacks Dividends reports. Investors of record on Friday, December 13th will be given a dividend of 0.21 per share by the textile maker on Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, December 13th.

Steven Madden has increased its dividend by an average of 77.6% annually over the last three years. Steven Madden has a dividend payout ratio of 28.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Steven Madden to earn $2.97 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 28.3%.

Steven Madden Stock Performance

Steven Madden stock opened at $43.52 on Wednesday. Steven Madden has a 52 week low of $37.99 and a 52 week high of $50.01. The firm has a market cap of $3.14 billion, a P/E ratio of 18.52 and a beta of 1.07. The business’s fifty day moving average is $45.55 and its two-hundred day moving average is $44.70.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. During the same quarter in the prior year, the company earned $0.88 EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities research analysts predict that Steven Madden will post 2.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SHOO. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a research note on Wednesday, November 13th. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research report on Sunday, November 24th. Piper Sandler restated a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Finally, Citigroup lifted their price target on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently 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.