Steven Madden (NASDAQ:SHOO) Releases FY24 Earnings Guidance

Steven Madden (NASDAQ:SHOO) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.55-2.65 for the period, compared to the consensus estimate of $2.62. The company issued revenue guidance of $2.19-2.23 billion, compared to the consensus revenue estimate of $2.21 billion.

Wall Street Analyst Weigh In

Several analysts have issued reports 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. StockNews.com raised shares of Steven Madden from a hold rating to a buy rating in a report on Thursday, February 29th. Wedbush raised their price objective 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. Citigroup raised their price objective 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. Finally, Piper Sandler initiated coverage on shares of Steven Madden in a report on Wednesday, February 14th. They set a neutral rating and a $45.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $41.38.

Steven Madden Price Performance

Shares of NASDAQ:SHOO opened at $40.41 on Wednesday. Steven Madden has a one year low of $29.92 and a one year high of $45.63. The company has a 50 day moving average of $41.36 and a 200-day moving average of $39.90. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 17.57 and a beta of 1.16.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The company had revenue of $519.71 million during the quarter, compared to analysts’ expectations of $511.96 million. During the same quarter in the previous year, the company earned $0.44 EPS. Steven Madden’s revenue was up 10.4% on a year-over-year basis. Equities research analysts anticipate that Steven Madden will post 2.61 earnings per share for the current year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Thursday, March 7th. Steven Madden’s dividend 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 Steven Madden stock in a transaction that occurred 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 transaction, 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 SEC, which is accessible through this link. 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. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s 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 directly owns 697,038 shares in the company, valued at approximately $28,920,106.62. 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 currently owned by company insiders.

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.