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

Steven Madden, Ltd. (NASDAQ:SHOO) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Monday, March 10th will be given a dividend of 0.21 per share by the textile maker on Friday, March 21st. This represents a $0.84 annualized dividend and a yield of 2.53%. The ex-dividend date is Monday, March 10th.

Steven Madden has raised its dividend payment by an average of 11.9% annually over the last three years. Steven Madden has a payout ratio of 28.5% 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 Trading Down 4.6 %

Shares of NASDAQ SHOO traded down $1.62 during trading hours on Thursday, reaching $33.22. The stock had a trading volume of 2,273,023 shares, compared to its average volume of 819,544. Steven Madden has a 52-week low of $32.81 and a 52-week high of $50.01. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 14.14 and a beta of 1.07. The business’s fifty day moving average price is $40.46 and its two-hundred day moving average price is $43.63.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $582.32 million during the quarter, compared to analysts’ expectations of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Equities research analysts anticipate that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SHOO. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Thursday. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Piper Sandler lowered their price objective on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Finally, Telsey Advisory Group reduced their price objective on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Steven Madden currently has a consensus rating of “Hold” and an average target price of $40.33.

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.