Steven Madden (NASDAQ:SHOO) Issues FY 2024 Earnings Guidance

Steven Madden (NASDAQ:SHOO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.620-2.670 for the period, compared to the consensus EPS estimate of 2.640. The company issued revenue guidance of $2.2 billion-$2.3 billion, compared to the consensus revenue estimate of $2.2 billion. Steven Madden also updated its FY24 guidance to $2.62-2.67 EPS.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SHOO. Piper Sandler restated a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. Telsey Advisory Group reiterated a “market perform” rating and issued a $50.00 target price on shares of Steven Madden in a report on Thursday. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Finally, Wedbush reissued a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.14.

Steven Madden Price Performance

Shares of Steven Madden stock traded up $1.71 during trading on Thursday, hitting $45.94. 291,612 shares of the stock were exchanged, compared to its average volume of 698,721. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 17.92 and a beta of 1.08. The firm’s 50-day moving average price is $46.40 and its 200 day moving average price is $44.12. Steven Madden has a 12-month low of $32.65 and a 12-month high of $50.01.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were paid a $0.21 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.83%. Steven Madden’s dividend payout ratio is presently 34.29%.

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.