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

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) announced a quarterly dividend on Monday, March 3rd, Wall Street Journal reports. Stockholders of record on Monday, March 10th will be given a dividend of 0.21 per share by the textile maker on Friday, March 21st. This represents a $0.84 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Monday, March 10th.

Steven Madden has raised its dividend by an average of 11.9% per year over the last three years. Steven Madden has a payout ratio of 29.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 NASDAQ SHOO traded down $2.34 during midday trading on Monday, hitting $30.45. 1,635,008 shares of the stock traded hands, compared to its average volume of 860,110. The company has a market cap of $2.20 billion, a PE ratio of 12.96 and a beta of 1.07. Steven Madden has a one year low of $30.42 and a one year high of $50.01. The business has a 50 day moving average price of $39.83 and a two-hundred day moving average price of $43.41.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. As a group, equities research analysts forecast that Steven Madden will post 2.66 EPS for the current fiscal year.

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Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Jefferies Financial Group reaffirmed a "hold" rating on shares of Steven Madden in a research report on Monday, February 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a research report on Thursday. Piper Sandler cut their target price on Steven Madden from $45.00 to $40.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 4th. Loop Capital cut their target price on Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday. Finally, StockNews.com cut Steven Madden from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average 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.