Steven Madden (NASDAQ:SHOO - Get Free Report) released its quarterly earnings data on Thursday. The textile maker reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.02, Briefing.com reports. The business had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The firm's revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share. Steven Madden updated its FY24 guidance to $2.62-2.67 EPS and its FY 2024 guidance to 2.620-2.670 EPS.
Steven Madden Stock Down 2.1 %
Shares of NASDAQ:SHOO traded down $0.97 during midday trading on Friday, reaching $44.63. The company had a trading volume of 1,340,635 shares, compared to its average volume of 707,524. The business's 50 day moving average price is $46.41 and its 200 day moving average price is $44.19. Steven Madden has a 1-year low of $32.71 and a 1-year high of $50.01. The stock has a market cap of $3.24 billion, a PE ratio of 18.99 and a beta of 1.08.
Steven Madden Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.88%. Steven Madden's dividend payout ratio is 35.74%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. Telsey Advisory Group reiterated a "market perform" rating and issued a $50.00 target price on shares of Steven Madden in a report on Thursday. StockNews.com downgraded Steven Madden from a "buy" rating to a "hold" rating in a research note on Friday. Citigroup boosted their target price on Steven Madden from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday. Wedbush reaffirmed a "neutral" rating and set a $41.00 price target on shares of Steven Madden in a research report on Wednesday, August 7th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $45.00 price objective on shares of Steven Madden in a research report on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $45.43.
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Steven Madden Company Profile
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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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