Steven Madden (NASDAQ:SHOO – Get Free Report) released its earnings results on Wednesday. The textile maker reported $0.57 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $515.15 million. During the same period in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter 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 Price Performance
Steven Madden stock traded down $1.83 during mid-day trading on Thursday, reaching $43.51. 1,013,469 shares of the stock traded hands, compared to its average volume of 740,845. Steven Madden has a 12-month low of $30.35 and a 12-month high of $47.24. The stock has a market capitalization of $3.19 billion, a PE ratio of 17.98 and a beta of 1.09. The business’s 50-day moving average is $43.57 and its 200-day moving average is $42.29.
Steven Madden Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 13th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. Steven Madden’s dividend payout ratio is presently 34.71%.
Insider Transactions at Steven Madden
Analyst Ratings Changes
Several brokerages recently commented on SHOO. BTIG Research increased their price objective on shares of Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Telsey Advisory Group reissued a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research report on Wednesday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research report on Friday, July 26th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Steven Madden has an average rating of “Hold” and a consensus price target of $43.38.
View Our Latest Report on Steven Madden
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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