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

Steven Madden, Ltd. (NASDAQ:SHOO) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Monday, March 10th.

Steven Madden has increased its dividend payment by an average of 11.9% annually over the last three years. Steven Madden has a payout ratio of 28.5% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of SHOO opened at $33.22 on Friday. The firm has a fifty day moving average price of $40.27 and a 200 day moving average price of $43.56. The stock has a market cap of $2.40 billion, a PE ratio of 14.14 and a beta of 1.07. Steven Madden has a 1-year low of $32.81 and a 1-year high of $50.01.

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

Analyst Ratings Changes

Several research firms have recently weighed in on SHOO. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Citigroup decreased their price target on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday. StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Telsey Advisory Group decreased their target price on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research report on Thursday. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $40.33.

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.