Steven Madden (SHOO) Scheduled to Post Earnings on Wednesday

Steven Madden (NASDAQ:SHOO) will be issuing its quarterly earnings data before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.56 per share for the quarter. Steven Madden has set its FY24 guidance at $2.55-2.65 EPS and its FY 2024 guidance at 2.550-2.650 EPS.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Steven Madden had a return on equity of 21.61% and a net margin of 8.67%. The company had revenue of $519.71 million during the quarter, compared to analysts’ expectations of $511.96 million. During the same period last year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts expect Steven Madden to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Steven Madden Stock Performance

Steven Madden stock traded up $1.31 during midday trading on Friday, reaching $41.03. The stock had a trading volume of 116,035 shares, compared to its average volume of 781,921. Steven Madden has a twelve month low of $29.92 and a twelve month high of $45.63. The stock’s 50-day simple moving average is $41.57 and its 200 day simple moving average is $39.68. The stock has a market capitalization of $3.01 billion, a PE ratio of 17.84 and a beta of 1.16.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Thursday, March 7th. Steven Madden’s dividend payout ratio (DPR) is currently 36.52%.

Insider Buying and Selling

In related news, CEO Edward R. Rosenfeld sold 48,500 shares of Steven Madden stock in a transaction on Friday, March 15th. The stock was 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 $28,920,106.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the transaction, the chief executive officer now owns 697,038 shares in the company, valued at approximately $28,920,106.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lisa Keith sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $41.73, for a total value of $100,152.00. Following the completion of the sale, the executive vice president now owns 20,687 shares of the company’s stock, valued at $863,268.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,346 shares of company stock valued at $2,464,841. Insiders own 2.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Williams Trading reaffirmed a “hold” rating and set a $44.00 price objective on shares of Steven Madden in a report on Wednesday, February 21st. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Wedbush lifted their target price on shares of Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Jefferies Financial Group reiterated a “hold” rating and set a $40.00 price objective on shares of Steven Madden in a report on Thursday, January 4th. Finally, Citigroup upped their target price on shares of Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $41.38.

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.