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

Steven Madden, Ltd. (NASDAQ:SHOO) declared a quarterly dividend on Wednesday, May 7th, RTT News reports. Stockholders of record on Monday, June 9th will be paid a dividend of 0.21 per share by the textile maker on Friday, June 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.59%.

Steven Madden has raised its dividend by an average of 11.9% annually over the last three years. Steven Madden has a payout ratio of 41.0% indicating that 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 Price Performance

Steven Madden stock opened at $23.42 on Thursday. The firm has a fifty day moving average price of $23.87 and a two-hundred day moving average price of $35.84. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 9.97 and a beta of 1.04. Steven Madden has a fifty-two week low of $19.05 and a fifty-two week high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company had revenue of $551.38 million during the quarter, compared to analyst estimates of $557.81 million. During the same period in the previous year, the company earned $0.65 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts expect that Steven Madden will post 2.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SHOO. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Citigroup decreased their price objective on shares of Steven Madden from $35.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price objective on shares of Steven Madden in a report on Thursday. Loop Capital dropped their target price on Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Finally, StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Steven Madden presently has an average rating of “Hold” and a consensus price target of $31.86.

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.