Skechers USA Inc. (SKX) Scheduled to Post Earnings on Thursday
Skechers USA Inc. (NYSE:SKX) is set to announce its Q316 earnings results on Thursday, October 20th. Analysts expect the company to announce earnings of $0.47 per share and revenue of $954.38 million for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.
Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, July 21st. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.02. Skechers USA had a return on equity of 20.20% and a net margin of 7.79%. The company had revenue of $877.80 million for the quarter, compared to the consensus estimate of $892.06 million. During the same quarter in the prior year, the company posted $0.52 EPS. On average, analysts expect Skechers USA to post $1.80 EPS for the current fiscal year and $2.06 EPS for the next fiscal year.
Skechers USA Inc. (NYSE:SKX) opened at 22.12 on Tuesday. The company’s 50 day moving average is $23.12 and its 200-day moving average is $27.44. Skechers USA Inc. has a 12 month low of $20.90 and a 12 month high of $49.28. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 12.78 and a beta of 0.15.
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In other Skechers USA news, General Counsel Phillip Paccione sold 1,389 shares of Skechers USA stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $24.12, for a total transaction of $33,502.68. Following the sale, the general counsel now owns 90,445 shares of the company’s stock, valued at approximately $2,181,533.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 21.73% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Pacad Investment Ltd. acquired a new stake in shares of Skechers USA during the second quarter valued at about $912,000. Cipher Capital LP boosted its stake in shares of Skechers USA by 58.0% in the second quarter. Cipher Capital LP now owns 28,114 shares of the company’s stock valued at $835,000 after buying an additional 10,317 shares during the period. BlueMountain Capital Management LLC boosted its stake in shares of Skechers USA by 16.8% in the second quarter. BlueMountain Capital Management LLC now owns 24,625 shares of the company’s stock valued at $732,000 after buying an additional 3,538 shares during the period. Lebenthal Asset Management LLC acquired a new stake in shares of Skechers USA during the second quarter valued at about $1,562,000. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Skechers USA by 129.6% in the second quarter. Janney Montgomery Scott LLC now owns 50,844 shares of the company’s stock valued at $1,512,000 after buying an additional 28,701 shares during the period. 65.73% of the stock is currently owned by institutional investors.
SKX has been the subject of several research reports. Susquehanna upgraded shares of Skechers USA from a “neutral” rating to a “positive” rating and set a $27.00 price objective for the company in a research note on Friday, September 30th. Morgan Stanley cut shares of Skechers USA from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $41.00 to $25.00 in a research note on Wednesday, September 21st. Citigroup Inc. restated a “buy” rating and set a $38.00 price objective on shares of Skechers USA in a research note on Tuesday, August 23rd. Vetr upgraded shares of Skechers USA from a “hold” rating to a “buy” rating and set a $34.68 price objective for the company in a research note on Tuesday, July 19th. Finally, Zacks Investment Research cut shares of Skechers USA from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Skechers USA currently has an average rating of “Buy” and an average target price of $28.42.
Skechers USA Company Profile
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
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