Brokerages expect Skechers USA Inc (NYSE:SKX) to report earnings per share of $0.22 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Skechers USA’s earnings. The highest EPS estimate is $0.25 and the lowest is $0.16. Skechers USA reported earnings of $0.21 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.8%. The business is expected to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Skechers USA will report full-year earnings of $1.83 per share for the current year, with EPS estimates ranging from $1.70 to $1.86. For the next fiscal year, analysts expect that the firm will report earnings of $1.95 per share, with EPS estimates ranging from $1.85 to $2.04. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Skechers USA.
Skechers USA (NYSE:SKX) last posted its earnings results on Thursday, October 18th. The textile maker reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. Skechers USA had a return on equity of 13.81% and a net margin of 4.13%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the business earned $0.59 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis.
Several analysts recently weighed in on SKX shares. B. Riley set a $50.00 price target on Skechers USA and gave the stock a “buy” rating in a research note on Tuesday, July 17th. ValuEngine upgraded Skechers USA from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Wells Fargo & Co downgraded Skechers USA from an “outperform” rating to a “market perform” rating and set a $36.00 price target on the stock. in a research note on Friday, July 20th. UBS Group downgraded Skechers USA from a “positive” rating to a “neutral” rating and cut their price target for the stock from $41.00 to $37.00 in a research note on Friday, July 20th. Finally, Monness Crespi & Hardt cut their price target on Skechers USA from $45.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $34.79.
In related news, President Michael Greenberg sold 75,630 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $29.28, for a total value of $2,214,446.40. Following the sale, the president now owns 593,309 shares in the company, valued at approximately $17,372,087.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 27.88% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of SKX. US Bancorp DE boosted its stake in Skechers USA by 169.5% during the 2nd quarter. US Bancorp DE now owns 4,069 shares of the textile maker’s stock valued at $122,000 after purchasing an additional 2,559 shares during the last quarter. First Mercantile Trust Co. purchased a new stake in Skechers USA during the 3rd quarter valued at $139,000. NuWave Investment Management LLC boosted its stake in Skechers USA by 92.2% during the 3rd quarter. NuWave Investment Management LLC now owns 5,011 shares of the textile maker’s stock valued at $140,000 after purchasing an additional 2,404 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Skechers USA during the 2nd quarter valued at $141,000. Finally, Strs Ohio purchased a new stake in Skechers USA during the 2nd quarter valued at $184,000. Institutional investors and hedge funds own 69.55% of the company’s stock.
SKX stock opened at $28.95 on Monday. Skechers USA has a fifty-two week low of $23.80 and a fifty-two week high of $43.08. The company has a current ratio of 3.43, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 2.28 and a beta of 0.39.
Skechers USA Company Profile
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.
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