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

Steven Madden, Ltd. (NASDAQ:SHOO) announced a quarterly dividend on Wednesday, September 11th, Zacks reports. Shareholders of record on Friday, September 13th will be paid a dividend of 0.21 per share by the textile maker on Monday, September 23rd. This represents a $0.84 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, September 13th.

Steven Madden has increased its dividend by an average of 77.6% annually over the last three years. Steven Madden has a payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Steven Madden to earn $2.91 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 28.9%.

Steven Madden Price Performance

Shares of NASDAQ:SHOO opened at $43.55 on Thursday. The firm has a market capitalization of $3.16 billion, a PE ratio of 18.00 and a beta of 1.08. The business has a 50-day moving average of $43.70 and a two-hundred day moving average of $42.52. Steven Madden has a 12 month low of $30.35 and a 12 month high of $47.24.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. The company had revenue of $523.60 million during the quarter, compared to analyst estimates of $515.15 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 earnings per share. As a group, research analysts anticipate that Steven Madden will post 2.62 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on SHOO. BTIG Research upped their target price on Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $44.00 target price on shares of Steven Madden in a research report on Wednesday, July 31st. Wedbush reaffirmed a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Finally, StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Seven equities 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, the company currently has a consensus rating of “Hold” and a consensus price target of $44.29.

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.