Steven Madden (NASDAQ:SHOO – Get Free Report) announced its quarterly earnings data on Wednesday. The textile maker reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.09, Briefing.com reports. The business had revenue of $552.38 million for the quarter, compared to the consensus estimate of $525.04 million. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. Steven Madden’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the company posted $0.50 earnings per share. 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
Shares of Steven Madden stock traded up $0.59 during trading on Thursday, hitting $40.01. 162,264 shares of the company were exchanged, compared to its average volume of 791,682. The firm has a market capitalization of $2.93 billion, a P/E ratio of 17.49 and a beta of 1.15. Steven Madden has a 1-year low of $29.92 and a 1-year high of $45.63. The firm’s fifty day moving average price is $41.22 and its 200 day moving average price is $39.96.
Steven Madden Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Monday, June 10th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.84 annualized dividend and a dividend yield of 2.10%. Steven Madden’s payout ratio is currently 36.52%.
Insider Transactions at Steven Madden
Analysts Set New Price Targets
Several research analysts recently commented on SHOO shares. Citigroup raised their target price on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Williams Trading reissued a “hold” rating and set a $44.00 price objective on shares of Steven Madden in a report on Wednesday, February 21st. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $44.00 price target on shares of Steven Madden in a report on Friday, April 26th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $40.00 price target on shares of Steven Madden in a report on Thursday, January 4th. Finally, Wedbush lifted their price target on Steven Madden from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Steven Madden currently has an average rating of “Hold” and an average price target of $41.38.
Read Our Latest Research Report on Steven Madden
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.
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