Steven Madden (NASDAQ:SHOO) Updates 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

A number of analysts recently commented on SHOO shares. Telsey Advisory Group reiterated a market perform rating and issued a $44.00 price objective on shares of Steven Madden in a research report on Friday, April 26th. Williams Trading reissued a hold rating and set a $44.00 price target on shares of Steven Madden in a research note on Wednesday, February 21st. 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 report on Wednesday, February 7th. StockNews.com upgraded shares of Steven Madden from a hold rating to a buy rating in a research report on Thursday, February 29th. Finally, Piper Sandler started coverage on Steven Madden in a research report on Wednesday, February 14th. They issued a neutral rating and a $45.00 price target on the stock. Six investment 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, the company currently has a consensus rating of Hold and a consensus price target of $41.38.

Steven Madden Stock Performance

SHOO stock traded down $0.52 during midday trading on Friday, hitting $39.59. 671,859 shares of the company’s stock were exchanged, compared to its average volume of 682,306. Steven Madden has a one year low of $29.92 and a one year high of $45.63. The stock’s fifty day moving average price is $41.05 and its 200-day moving average price is $40.01. The company has a market cap of $2.90 billion, a PE ratio of 16.36 and a beta of 1.15.

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

Steven Madden Dividend Announcement

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

Insider Transactions at Steven Madden

In other news, EVP Lisa Keith sold 2,400 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 20,687 shares of the company’s stock, valued at $863,268.51. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Lisa Keith sold 2,400 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $41.73, for a total value of $100,152.00. Following the sale, the executive vice president now directly owns 20,687 shares of the company’s stock, valued at approximately $863,268.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Allan Davis sold 1,200 shares of Steven Madden stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the transaction, the director now owns 5,751 shares of the company’s stock, valued at approximately $242,289.63. The disclosure for this sale can be found here. Insiders sold 59,346 shares of company stock valued at $2,464,841 over the last three months. Company insiders own 2.08% of the company’s stock.

Steven Madden Company Profile

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.