Steven Madden (NASDAQ:SHOO) Issues FY 2024 Earnings Guidance

Steven Madden (NASDAQ:SHOO) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.550-2.650 for the period, compared to the consensus EPS estimate of 2.620. The company issued revenue guidance of $2.2 billion-$2.2 billion, compared to the consensus revenue estimate of $2.2 billion. Steven Madden also updated its FY24 guidance to $2.55-2.65 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Steven Madden from a hold rating to a buy rating in a research report on Thursday, February 29th. Piper Sandler initiated coverage on shares of Steven Madden in a research report on Wednesday, February 14th. They set a neutral rating and a $45.00 target price on the stock. Williams Trading restated a hold rating and issued a $44.00 price target on shares of Steven Madden in a research report on Wednesday, February 21st. Jefferies Financial Group reiterated a hold rating and set a $40.00 target price on shares of Steven Madden in a research report on Thursday, January 4th. Finally, Citigroup boosted their target price on shares of Steven Madden from $41.00 to $43.00 and gave the company a neutral rating in a research 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. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $41.38.

Steven Madden Price Performance

Shares of NASDAQ SHOO traded down $1.48 during trading on Wednesday, hitting $38.93. The stock had a trading volume of 203,662 shares, compared to its average volume of 784,477. Steven Madden has a 12 month low of $29.92 and a 12 month high of $45.63. The company has a market capitalization of $2.85 billion, a PE ratio of 17.57 and a beta of 1.16. The firm has a fifty day moving average of $41.36 and a two-hundred day moving average of $39.90.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. The company had revenue of $519.71 million during the quarter, compared to analyst estimates of $511.96 million. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, equities analysts expect that Steven Madden will post 2.61 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.84 annualized dividend and a yield of 2.16%. Steven Madden’s payout ratio is currently 36.52%.

Insider Activity at Steven Madden

In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the sale, the chief executive officer now directly 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 company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the sale, the chief executive officer now directly 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. Also, CFO Zine Mazouzi sold 7,246 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $41.66, for a total transaction of $301,868.36. Following the sale, the chief financial officer now directly owns 68,785 shares in the company, valued at $2,865,583.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,346 shares of company stock worth $2,464,841. 2.08% of the stock is owned by company insiders.

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.