Steven Madden (NASDAQ:SHOO) Releases FY22 Earnings Guidance

Steven Madden (NASDAQ:SHOO – Get Rating) updated its FY22 earnings guidance on Wednesday. The company provided EPS guidance of $2.90-3.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.82. The company issued revenue guidance of $2.09-2.15 billion, compared to the consensus revenue estimate of $2.08 billion.

SHOO has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Steven Madden from a buy rating to a hold rating and set a $50.00 price objective on the stock. in a research note on Thursday, January 6th. StockNews.com started coverage on Steven Madden in a research note on Thursday, March 31st. They issued a buy rating on the stock. Finally, Loop Capital raised Steven Madden from a hold rating to a buy rating and set a $50.00 target price for the company in a research note on Tuesday, January 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Steven Madden currently has a consensus rating of Buy and an average price target of $53.67.

SHOO opened at $42.31 on Wednesday. Steven Madden has a fifty-two week low of $36.77 and a fifty-two week high of $51.56. The company’s fifty day moving average price is $40.37. The stock has a market cap of $3.38 billion, a PE ratio of 18.08 and a beta of 1.23.

Steven Madden (NASDAQ:SHOO – Get Rating) last posted its quarterly earnings data on Thursday, February 24th. The textile maker reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.14. Steven Madden had a net margin of 10.22% and a return on equity of 25.37%. The business had revenue of $578.48 million for the quarter, compared to analysts’ expectations of $526.03 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. The business’s revenue was up 63.9% compared to the same quarter last year. As a group, equities research analysts predict that Steven Madden will post 2.81 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Friday, March 11th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.99%. This is a boost from Steven Madden’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, March 10th. Steven Madden’s payout ratio is 35.90%.

Several hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its holdings in shares of Steven Madden by 0.9% in the 4th quarter. California State Teachers Retirement System now owns 113,040 shares of the textile maker’s stock valued at $5,253,000 after acquiring an additional 1,005 shares during the period. Deutsche Bank AG grew its position in shares of Steven Madden by 1.9% in the 4th quarter. Deutsche Bank AG now owns 56,960 shares of the textile maker’s stock worth $2,647,000 after buying an additional 1,063 shares during the last quarter. Allstate Corp raised its stake in shares of Steven Madden by 9.9% during the 4th quarter. Allstate Corp now owns 17,374 shares of the textile maker’s stock worth $807,000 after acquiring an additional 1,571 shares in the last quarter. LPL Financial LLC boosted its stake in Steven Madden by 16.6% in the third quarter. LPL Financial LLC now owns 13,576 shares of the textile maker’s stock valued at $545,000 after acquiring an additional 1,930 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Steven Madden by 1.7% in the fourth quarter. Alliancebernstein L.P. now owns 147,006 shares of the textile maker’s stock worth $6,831,000 after purchasing an additional 2,396 shares during the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

Steven Madden Company Profile (Get Rating)

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. Its Wholesale Footwear segment provides footwear under the Steve Madden, Steven by Steve Madden, Madden Girl, BB Dakota, Dolce Vita, DV Dolce Vita, Betsey Johnson, GREATS, Blondo, Anne Klein, Mad Love, Superga, Madden NYC, and COOL Planet brands, as well as private label footwear.

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