Steven Madden (NASDAQ:SHOO) Updates FY 2024 Earnings Guidance

Steven Madden (NASDAQ:SHOO) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.550-2.650 for the period, compared to the consensus earnings per share estimate of 2.620. The company issued revenue guidance of $2.2 billion-$2.2 billion, compared to the consensus revenue estimate of $2.2 billion. Steven Madden also updated its FY24 guidance to $2.55-2.65 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler started coverage on shares of Steven Madden in a research note on Wednesday, February 14th. They issued a neutral rating and a $45.00 price objective for the company. Citigroup raised their price target on Steven Madden from $41.00 to $43.00 and gave the stock a neutral rating in a research report on Thursday, February 29th. Telsey Advisory Group reiterated a market perform rating and issued a $44.00 price objective on shares of Steven Madden in a research report on Friday, April 26th. Williams Trading restated a hold rating and issued a $44.00 target price on shares of Steven Madden in a report on Wednesday, February 21st. Finally, Wedbush upped their price objective on shares of Steven Madden from $36.00 to $38.00 and gave the company a neutral rating in a research note on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $41.38.

Steven Madden Stock Down 1.3 %

Shares of NASDAQ SHOO traded down $0.52 during midday trading on Friday, hitting $39.59. The stock had a trading volume of 671,859 shares, compared to its average volume of 682,306. Steven Madden has a 52 week low of $29.92 and a 52 week high of $45.63. The company has a market cap of $2.90 billion, a P/E ratio of 16.36 and a beta of 1.15. The business’s 50 day moving average is $41.05 and its 200-day moving average is $40.01.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The firm had revenue of $552.38 million for the quarter, compared to the consensus estimate of $525.04 million. During the same period in the prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue was up 19.1% on a year-over-year basis. As a group, analysts expect that Steven Madden will post 2.61 EPS for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 10th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Friday, June 7th. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

Insider Transactions at Steven Madden

In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the sale, the chief executive officer now owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Zine Mazouzi sold 7,246 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $41.66, for a total value of $301,868.36. Following the transaction, the chief financial officer now directly owns 68,785 shares of the company’s stock, valued at approximately $2,865,583.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $41.49, for a total value of $2,012,265.00. Following the sale, the chief executive officer now directly owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The disclosure for this sale can be found here. Insiders have sold a total of 59,346 shares of company stock worth $2,464,841 in the last ninety days. Insiders own 2.08% of the company’s stock.

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.