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

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

Steven Madden has raised its dividend by an average of 11.9% per year over the last three years. Steven Madden has a payout ratio of 28.5% meaning its dividend is sufficiently covered by earnings. Research 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 SHOO traded down $1.62 during midday trading on Thursday, reaching $33.22. The stock had a trading volume of 2,273,023 shares, compared to its average volume of 819,544. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 14.14 and a beta of 1.07. The company’s 50-day moving average is $40.46 and its 200 day moving average is $43.63. Steven Madden has a 12-month low of $32.81 and a 12-month high of $50.01.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Research analysts forecast that Steven Madden will post 2.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SHOO shares. Loop Capital lowered their price objective on Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday. Piper Sandler decreased their price target on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Thursday. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Finally, Telsey Advisory Group dropped their price objective on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.