Steven Madden (NASDAQ:SHOO) Issues FY24 Earnings Guidance

Steven Madden (NASDAQ:SHOO) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.55-2.65 for the period, compared to the consensus EPS estimate of $2.64. The company issued revenue guidance of +11-13% yr/yr to $2.19-2.23 billion, compared to the consensus revenue estimate of $2.23 billion. Steven Madden also updated its FY 2024 guidance to 2.550-2.650 EPS.

Steven Madden Stock Performance

Shares of SHOO stock traded down $1.90 during mid-day trading on Friday, reaching $41.61. The company’s stock had a trading volume of 766,874 shares, compared to its average volume of 788,322. Steven Madden has a 1-year low of $30.35 and a 1-year high of $47.24. The company has a market cap of $3.05 billion, a P/E ratio of 17.19 and a beta of 1.09. The firm’s 50-day moving average is $43.58 and its two-hundred day moving average is $42.30.

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

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 13th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, September 13th. Steven Madden’s dividend payout ratio (DPR) is currently 34.71%.

Analyst Ratings Changes

SHOO has been the subject of a number of recent analyst reports. BTIG Research increased their target price on shares of Steven Madden from $50.00 to $53.00 and gave the stock a buy rating in a research report on Thursday, June 6th. Telsey Advisory Group reiterated a market perform rating and set a $44.00 target price on shares of Steven Madden in a research report on Wednesday. Finally, Wedbush reissued a neutral rating and set a $41.00 price objective on shares of Steven Madden in a report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Steven Madden presently has a consensus rating of Hold and a consensus price target of $43.38.

Insiders Place Their Bets

In other news, insider Karla Frieders sold 10,000 shares of Steven Madden stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $44.91, for a total value of $449,100.00. Following the sale, the insider now directly owns 86,658 shares in the company, valued at $3,891,810.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Peter Migliorini sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $43.81, for a total value of $131,430.00. Following the completion of the transaction, the director now directly owns 16,006 shares of the company’s stock, valued at $701,222.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Karla Frieders sold 10,000 shares of Steven Madden stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $44.91, for a total transaction of $449,100.00. Following the transaction, the insider now directly owns 86,658 shares of the company’s stock, valued at $3,891,810.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,600 shares of company stock worth $651,586. Company 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.