Steven Madden, Ltd. (SHOO) to Issue Quarterly Dividend of $0.21 on March 21st

Steven Madden, Ltd. (NASDAQ:SHOO) declared a quarterly dividend on Friday, March 7th, Wall Street Journal reports. Shareholders of record on Monday, March 10th will be given a dividend of 0.21 per share by the textile maker on Friday, March 21st. This represents a $0.84 annualized dividend and a yield of 2.91%. The ex-dividend date is Monday, March 10th.

Steven Madden has increased its dividend payment by an average of 11.9% per year over the last three years. Steven Madden has a payout ratio of 29.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Steven Madden to earn $2.81 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 29.9%.

Steven Madden Price Performance

NASDAQ:SHOO opened at $28.89 on Friday. Steven Madden has a fifty-two week low of $28.47 and a fifty-two week high of $50.01. The stock’s 50-day moving average is $39.04 and its two-hundred day moving average is $43.11. The stock has a market cap of $2.09 billion, a PE ratio of 12.29 and a beta of 1.06.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company had revenue of $582.32 million for the quarter, compared to analysts’ expectations of $550.37 million. On average, equities research analysts anticipate that Steven Madden will post 2.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SHOO. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Citigroup reduced their price target on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Loop Capital reduced their price target on Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a report on Thursday, February 27th. Finally, Piper Sandler reduced their price target on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Steven Madden currently has a consensus rating of “Hold” and an average price target of $40.33.

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.