Steven Madden, Ltd. (NASDAQ:SHOO) to Issue $0.21 Quarterly Dividend

Key Points

• Steven Madden, Ltd. has declared a quarterly dividend of $0.21 per share, with the ex-dividend date set for September 12th.
• The company's quarterly earnings report showed a miss on EPS expectations, with reported earnings of $0.20 versus an estimated $0.24, alongside a revenue of $556.09 million.
• Analysts have varying price targets for the stock, with a consensus rating of "Hold" and an average target price of $30.83 despite recent adjustments.

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) declared a quarterly dividend on Thursday, July 31st, Wall Street Journal reports. Shareholders of record on Friday, September 12th will be paid a dividend of 0.21 per share by the textile maker on Tuesday, September 23rd. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, September 12th.

Steven Madden has a dividend payout ratio of 42.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Steven Madden to earn $2.81 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 29.9%.

Steven Madden Stock Down 2.0%

Steven Madden stock traded down $0.48 during trading hours on Friday, reaching $23.52. The stock had a trading volume of 2,940,411 shares, compared to its average volume of 1,528,850. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 18.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.01 and a quick ratio of 1.64. The business's 50 day moving average price is $24.99 and its 200-day moving average price is $27.87. Steven Madden has a 52 week low of $19.05 and a 52 week high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its earnings results on Wednesday, July 30th. The textile maker reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). Steven Madden had a return on equity of 18.32% and a net margin of 3.92%. The firm had revenue of $556.09 million during the quarter, compared to the consensus estimate of $575.83 million. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. Sell-side analysts anticipate that Steven Madden will post 2.66 EPS for the current year.

Wall Street Analysts Forecast Growth

SHOO has been the topic of a number of research analyst reports. Piper Sandler dropped their price target on Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research note on Wednesday. Telsey Advisory Group restated a "market perform" rating and set a $26.00 price target (up previously from $24.00) on shares of Steven Madden in a research note on Wednesday. UBS Group boosted their price target on Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Finally, Citigroup upgraded Steven Madden from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $26.00 to $32.00 in a research note on Thursday, July 17th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $30.83.

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.