Steven Madden (NASDAQ:SHOO – Get Free Report) issued its earnings results on Wednesday. The textile maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06, Briefing.com reports. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The business had revenue of $523.60 million during the quarter, compared to analyst estimates of $515.15 million. During the same period in the previous year, the company posted $0.47 EPS. The firm’s revenue was up 17.6% 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 Stock Performance
NASDAQ:SHOO traded down $1.83 on Thursday, hitting $43.51. The stock had a trading volume of 1,013,469 shares, compared to its average volume of 740,845. Steven Madden has a 1 year low of $30.35 and a 1 year high of $47.24. The firm’s fifty day simple moving average is $43.57 and its two-hundred day simple moving average is $42.29. The stock has a market cap of $3.19 billion, a P/E ratio of 17.98 and a beta of 1.09.
Steven Madden Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 13th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Friday, September 13th. Steven Madden’s payout ratio is currently 34.71%.
Insider Transactions at Steven Madden
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. Wedbush reaffirmed a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a research report on Friday, July 26th. Telsey Advisory Group restated a “market perform” rating and set a $44.00 price objective on shares of Steven Madden in a report on Wednesday. Finally, BTIG Research boosted their target price on shares of Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Six 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 company presently has an average rating of “Hold” and a consensus price target of $43.38.
Read Our Latest Stock Report on SHOO
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.
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