Analysts Issue Forecasts for Steven Madden FY2024 Earnings

Steven Madden, Ltd. (NASDAQ:SHOO) – Analysts at Telsey Advisory Group upped their FY2024 earnings estimates for Steven Madden in a report issued on Friday, November 8th. Telsey Advisory Group analyst D. Telsey now forecasts that the textile maker will post earnings per share of $2.67 for the year, up from their prior estimate of $2.65. Telsey Advisory Group has a “Market Perform” rating and a $50.00 price target on the stock. The consensus estimate for Steven Madden’s current full-year earnings is $2.65 per share. Telsey Advisory Group also issued estimates for Steven Madden’s Q4 2024 earnings at $0.54 EPS, Q3 2025 earnings at $1.03 EPS, Q4 2025 earnings at $0.62 EPS and FY2025 earnings at $3.04 EPS.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company had revenue of $624.68 million during the quarter, compared to analyst estimates of $607.89 million. During the same quarter last year, the business posted $0.88 EPS. Steven Madden’s quarterly revenue was up 13.0% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the company. Piper Sandler reissued a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. Citigroup increased their target price on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Wedbush reiterated a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.43.

Steven Madden Price Performance

NASDAQ:SHOO opened at $44.83 on Monday. The company has a market capitalization of $3.26 billion, a P/E ratio of 19.08 and a beta of 1.08. The business has a fifty day simple moving average of $46.41 and a two-hundred day simple moving average of $44.25. Steven Madden has a 1 year low of $33.07 and a 1 year high of $50.01.

Institutional Investors Weigh In On Steven Madden

Several large investors have recently added to or reduced their stakes in SHOO. Mackenzie Financial Corp increased its position in shares of Steven Madden by 3.1% in the second quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock worth $348,000 after purchasing an additional 248 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Steven Madden by 1.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock valued at $1,720,000 after buying an additional 400 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Steven Madden by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock worth $1,698,000 after acquiring an additional 484 shares during the last quarter. AlphaMark Advisors LLC grew its position in Steven Madden by 7.4% in the second quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker’s stock worth $329,000 after acquiring an additional 535 shares in the last quarter. Finally, KBC Group NV increased its stake in Steven Madden by 34.1% in the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after acquiring an additional 561 shares during the last quarter. Institutional investors own 99.88% of the company’s stock.

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.87%. Steven Madden’s dividend payout ratio (DPR) is currently 35.74%.

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.