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

Steven Madden (NASDAQ:SHOO) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.550-2.650 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SHOO shares. Wedbush upped their target price on shares of Steven Madden from $36.00 to $38.00 and gave the stock a neutral rating in a report on Wednesday, February 7th. Piper Sandler initiated coverage on shares of Steven Madden in a research note on Wednesday, February 14th. They set a neutral rating and a $45.00 price objective on the stock. Citigroup boosted their target price on Steven Madden from $41.00 to $43.00 and gave the stock a neutral rating in a report on Thursday, February 29th. Telsey Advisory Group reaffirmed a market perform rating and set a $44.00 price target on shares of Steven Madden in a report on Friday, April 26th. Finally, StockNews.com raised Steven Madden from a hold rating to a buy rating in a research note on Thursday, February 29th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $41.38.

Steven Madden Trading Down 1.3 %

Steven Madden stock traded down $0.52 during mid-day trading on Friday, hitting $39.59. The stock had a trading volume of 671,859 shares, compared to its average volume of 682,306. The stock has a market capitalization of $2.90 billion, a PE ratio of 16.36 and a beta of 1.15. Steven Madden has a 12 month low of $29.92 and a 12 month high of $45.63. The stock has a 50-day simple moving average of $41.05 and a two-hundred day simple moving average of $40.01.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. Steven Madden had a net margin of 8.65% and a return on equity of 22.68%. The business had revenue of $552.38 million during the quarter, compared to the consensus estimate of $525.04 million. During the same period in the previous year, the firm posted $0.50 earnings per share. Steven Madden’s revenue for the quarter was up 19.1% compared to the same quarter last year. Sell-side analysts expect that Steven Madden will post 2.61 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Monday, June 10th will be given a $0.21 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.84 annualized dividend and a dividend yield of 2.12%. Steven Madden’s dividend payout ratio is currently 34.71%.

Insiders Place Their Bets

In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $41.49, for a total value of $2,012,265.00. Following the sale, the chief executive officer now directly owns 697,038 shares in the company, valued at $28,920,106.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the stock in a transaction on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa Keith sold 2,400 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $41.73, for a total transaction of $100,152.00. Following the completion of the transaction, the executive vice president now directly owns 20,687 shares of the company’s stock, valued at $863,268.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,346 shares of company stock worth $2,464,841. Insiders own 2.08% of the company’s stock.

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.