Steven Madden, Ltd. Announces Quarterly Dividend of $0.21 (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) announced a quarterly dividend on Wednesday, September 11th, Zacks reports. Shareholders of record on Friday, September 13th will be paid a dividend of 0.21 per share by the textile maker on Monday, September 23rd. This represents a $0.84 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, September 13th.

Steven Madden has raised its dividend payment by an average of 77.6% annually over the last three years. Steven Madden has a payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Steven Madden to earn $2.91 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 28.9%.

Steven Madden Stock Up 0.6 %

Shares of NASDAQ SHOO opened at $43.55 on Thursday. The stock’s 50 day moving average price is $43.70 and its two-hundred day moving average price is $42.52. Steven Madden has a 52-week low of $30.35 and a 52-week high of $47.24. The stock has a market capitalization of $3.16 billion, a P/E ratio of 18.00 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The business had revenue of $523.60 million for the quarter, compared to analysts’ expectations of $515.15 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. On average, analysts anticipate that Steven Madden will post 2.62 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SHOO shares. Wedbush reiterated a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a research report on Wednesday, August 7th. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Piper Sandler reiterated a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a research report on Friday, August 23rd. BTIG Research increased their price target on Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $44.00 target price on shares of Steven Madden in a research report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.29.

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.