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. Steven Madden also updated its FY 2024 guidance to 2.550-2.650 EPS.

Steven Madden Trading Down 1.3 %

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

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, May 1st. The textile maker reported $0.65 EPS for the quarter, beating the consensus estimate of $0.56 by $0.09. The firm 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%. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. On average, sell-side analysts predict that Steven Madden will post 2.61 EPS for the current year.

Steven Madden Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SHOO shares. Williams Trading reissued a hold rating and set a $44.00 price target on shares of Steven Madden in a research report on Wednesday, February 21st. Wedbush boosted their price target on Steven Madden from $36.00 to $38.00 and gave the company a neutral rating in a research report on Wednesday, February 7th. Telsey Advisory Group reissued a market perform rating and set a $44.00 price target on shares of Steven Madden in a research report on Friday, April 26th. Piper Sandler started coverage on Steven Madden in a research report on Wednesday, February 14th. They set a neutral rating and a $45.00 price target for the company. Finally, StockNews.com raised Steven Madden from a hold rating to a buy rating in a research report on Thursday, February 29th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $41.38.

Insider Activity at Steven Madden

In related news, Director Peter Allan Davis sold 1,200 shares of the 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 completion of the transaction, the director now owns 5,751 shares of the company’s stock, valued at $242,289.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Steven Madden news, EVP Lisa Keith sold 2,400 shares of the 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 approximately $863,268.51. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter Allan Davis sold 1,200 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the sale, the director now directly owns 5,751 shares of the company’s stock, valued at $242,289.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,346 shares of company stock valued at $2,464,841. 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.