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

Steven Madden, Ltd. (NASDAQ:SHOO) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Monday, March 10th will be paid a dividend of 0.21 per share by the textile maker on Friday, March 21st. This represents a $0.84 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend 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 28.5% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of SHOO opened at $33.22 on Friday. The company’s 50-day simple moving average is $40.27 and its 200-day simple moving average is $43.56. Steven Madden has a 1 year low of $32.81 and a 1 year high of $50.01. The stock has a market capitalization of $2.40 billion, a PE ratio of 14.14 and a beta of 1.07.

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

Analysts Set New Price Targets

SHOO has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Telsey Advisory Group decreased their price objective on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday. Citigroup cut their target price on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a report on Thursday. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $40.33.

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.