Skechers USA (SKX) Updates Q1 Earnings Guidance

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Skechers USA (NYSE:SKX) updated its first quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.70-0.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.66. The company issued revenue guidance of $1.28-1.30 billion, compared to the consensus revenue estimate of $1.33 billion.Skechers USA also updated its Q1 2019 guidance to $0.70-0.75 EPS.

Several research analysts have issued reports on the company. Zacks Investment Research lowered Skechers USA from a buy rating to a hold rating in a research report on Monday, December 10th. Monness Crespi & Hardt restated a buy rating and set a $35.00 target price (up previously from $32.00) on shares of Skechers USA in a research report on Friday. Finally, Morgan Stanley set a $29.00 target price on Skechers USA and gave the company a hold rating in a research report on Friday. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Skechers USA currently has a consensus rating of Hold and a consensus target price of $31.95.

Shares of Skechers USA stock traded up $4.21 on Friday, hitting $31.91. 14,298,954 shares of the company traded hands, compared to its average volume of 3,146,286. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 3.43. Skechers USA has a 52 week low of $21.45 and a 52 week high of $43.08. The company has a market capitalization of $4.38 billion, a PE ratio of 16.62, a P/E/G ratio of 2.06 and a beta of 0.62.

Skechers USA (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 7th. The textile maker reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.08. Skechers USA had a net margin of 6.49% and a return on equity of 14.19%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. On average, analysts forecast that Skechers USA will post 1.92 earnings per share for the current year.

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About Skechers USA

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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