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

Steven Madden, Ltd. (NASDAQ:SHOO) announced a quarterly dividend on Thursday, November 5th. Shareholders of record on Friday, December 11th will be given a dividend of $0.21 per share by the textile maker on Thursday, December 24th. This represents a $0.84 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, December 11th.

Steven Madden has raised its dividend payment by an average of 0.4% annually over the last three years. Steven Madden has a dividend payout ratio of 42.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Steven Madden to earn $2.69 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 31.2%.

Steven Madden Stock Performance

NASDAQ:SHOO opened at $38.99 on Friday. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 19.59 and a beta of 1.14. Steven Madden has a 1 year low of $31.33 and a 1 year high of $49.70. The stock’s 50 day simple moving average is $43.80 and its two-hundred day simple moving average is $41.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.91 and a quick ratio of 1.13.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Thursday, November 5th. The textile maker reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. Steven Madden had a return on equity of 13.85% and a net margin of 5.23%. The firm had revenue of $772.61 million during the quarter, compared to the consensus estimate of $774.35 million. During the same period in the prior year, the company earned $0.43 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, equities analysts anticipate that Steven Madden will post 2.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup reaffirmed a “buy” rating and set a $55.00 price target (up from $45.00) on shares of Steven Madden in a research note on Friday, July 31st. Wall Street Zen raised shares of Steven Madden from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. BMO Capital Markets initiated coverage on shares of Steven Madden in a report on Tuesday, September 8th. They issued an “outperform” rating and a $60.00 target price on the stock. Jefferies Financial Group upgraded shares of Steven Madden from an “underperform” rating to a “hold” rating and set a $36.00 target price on the stock in a research report on Friday. Finally, Piper Sandler set a $55.00 price target on shares of Steven Madden and gave the company an “overweight” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.20.

About Steven Madden

Steven Madden, Ltd. is a fashion company that designs, sources, markets and sells footwear, handbags, accessories and apparel. Its products are offered under the Steve Madden brand and a portfolio of owned, licensed and distributed brands, including Dolce Vita, Betsey Johnson, Blondo, Mad Love and Greats.

The company sells its products through wholesale channels, including department stores, specialty retailers and online retailers, as well as through its own retail stores and e-commerce websites.