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

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Friday, December 13th will be given a dividend of 0.21 per share by the textile maker on Friday, December 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Friday, December 13th.

Steven Madden has increased its dividend payment by an average of 77.6% per year over the last three years. Steven Madden has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Steven Madden to earn $2.91 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 28.9%.

Steven Madden Stock Down 2.2 %

Shares of NASDAQ:SHOO traded down $1.00 during trading on Friday, hitting $44.60. The stock had a trading volume of 1,340,605 shares, compared to its average volume of 707,523. Steven Madden has a 12-month low of $32.71 and a 12-month high of $50.01. The stock has a 50-day simple moving average of $46.42 and a two-hundred day simple moving average of $44.13. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 19.33 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The company had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. During the same period last year, the firm earned $0.88 EPS. The firm's revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Steven Madden will post 2.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $50.00 price target on shares of Steven Madden in a report on Thursday. Wedbush reissued a "neutral" rating and set a $41.00 target price on shares of Steven Madden in a research note on Wednesday, August 7th. StockNews.com upgraded Steven Madden from a "hold" rating to a "buy" rating in a report on Wednesday, September 18th. Citigroup increased their target price on Steven Madden from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Friday. Finally, Piper Sandler reiterated a "neutral" rating and set a $45.00 price target on shares of Steven Madden in a research report on Friday, August 23rd. Six 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 has an average rating of "Hold" and a consensus target price of $45.43.

About Steven Madden

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.