Steven Madden (SHOO) to Release Quarterly Earnings on Wednesday

Steven Madden (NASDAQ:SHOO) will announce its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.56 per share for the quarter. Steven Madden has set its FY24 guidance at $2.55-2.65 EPS and its FY 2024 guidance at 2.550-2.650 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Steven Madden (NASDAQ:SHOO) last announced its 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 return on equity of 21.61% and a net margin of 8.67%. The firm had revenue of $519.71 million for the quarter, compared to analysts’ expectations of $511.96 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, analysts expect Steven Madden to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Steven Madden Price Performance

Shares of SHOO traded down $0.25 during midday trading on Tuesday, reaching $40.74. The stock had a trading volume of 234,732 shares, compared to its average volume of 781,327. The company has a market capitalization of $2.99 billion, a P/E ratio of 17.82 and a beta of 1.16. The firm’s 50 day moving average price is $41.36 and its 200-day moving average price is $39.90. Steven Madden has a 52 week low of $29.92 and a 52 week high of $45.63.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Thursday, March 7th. Steven Madden’s dividend payout ratio is presently 36.52%.

Wall Street Analysts Forecast Growth

SHOO has been the subject of a number of research analyst reports. Williams Trading reiterated a “hold” rating and issued a $44.00 target price on shares of Steven Madden in a research report on Wednesday, February 21st. Citigroup increased their price objective on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Wedbush boosted their target price on Steven Madden from $36.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research note on Friday. Finally, Piper Sandler assumed coverage on Steven Madden in a research note on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 price target for the company. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Steven Madden currently has a consensus rating of “Hold” and a consensus target price of $41.38.

Insider Activity

In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was 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 of the company’s stock, valued at $28,920,106.62. The sale 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 that occurred on Friday, March 15th. The stock was sold at an average price of $41.49, for a total value of $2,012,265.00. Following the completion of the sale, the chief executive officer now directly owns 697,038 shares of the company’s stock, valued at $28,920,106.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Zine Mazouzi sold 7,246 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $41.66, for a total transaction of $301,868.36. Following the transaction, the chief financial officer now owns 68,785 shares of the company’s stock, valued at $2,865,583.10. The disclosure for this sale can be found here. Insiders have sold a total of 59,346 shares of company stock valued at $2,464,841 over the last 90 days. 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.