Skechers U.S.A., Inc. (SKX) Expected to Announce Earnings of $0.43 Per Share
Wall Street brokerages expect Skechers U.S.A., Inc. (NYSE:SKX) to post earnings per share (EPS) of $0.43 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Skechers U.S.A.’s earnings. The lowest EPS estimate is $0.40 and the highest is $0.45. Skechers U.S.A. reported earnings per share of $0.42 in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.4%. The firm is expected to issue its next earnings report on Monday, January 1st.
On average, analysts expect that Skechers U.S.A. will report full-year earnings of $1.54 per share for the current financial year, with EPS estimates ranging from $1.45 to $1.58. For the next year, analysts forecast that the company will post earnings of $1.97 per share, with EPS estimates ranging from $1.77 to $2.15. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Skechers U.S.A..
Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, July 20th. The textile maker reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.06). The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $966.46 million. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS.
Several research analysts recently weighed in on SKX shares. Buckingham Research set a $34.00 price target on shares of Skechers U.S.A. and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Citigroup Inc. upped their price target on shares of Skechers U.S.A. from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. B. Riley restated a “buy” rating and set a $37.00 price target on shares of Skechers U.S.A. in a research report on Friday, July 21st. Vetr upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $32.12 price target for the company in a research report on Monday, July 10th. Finally, BidaskClub upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Three analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. Skechers U.S.A. has a consensus rating of “Hold” and a consensus target price of $31.02.
Shares of Skechers U.S.A. (NYSE SKX) traded down 2.2459% on Wednesday, hitting $24.8882. The stock had a trading volume of 906,016 shares. The firm has a market cap of $3.33 billion, a P/E ratio of 17.2835 and a beta of 0.19. Skechers U.S.A. has a 12 month low of $18.81 and a 12 month high of $30.00. The firm’s 50-day moving average price is $25.81 and its 200 day moving average price is $26.57.
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In related news, General Counsel Phillip Paccione sold 1,004 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $27.24, for a total transaction of $27,348.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 38.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kennedy Capital Management Inc. grew its stake in Skechers U.S.A. by 20.5% during the 2nd quarter. Kennedy Capital Management Inc. now owns 643,198 shares of the textile maker’s stock valued at $18,974,000 after acquiring an additional 109,441 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Skechers U.S.A. by 94.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 58,963 shares of the textile maker’s stock valued at $1,739,000 after acquiring an additional 28,646 shares in the last quarter. Aristotle Fund L.P. grew its stake in Skechers U.S.A. by 8.2% during the 2nd quarter. Aristotle Fund L.P. now owns 519,700 shares of the textile maker’s stock valued at $15,331,000 after acquiring an additional 39,200 shares in the last quarter. BlackRock Inc. grew its stake in Skechers U.S.A. by 3,136.5% during the 1st quarter. BlackRock Inc. now owns 11,190,173 shares of the textile maker’s stock valued at $307,170,000 after acquiring an additional 10,844,421 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Skechers U.S.A. by 3.8% during the 2nd quarter. Principal Financial Group Inc. now owns 568,669 shares of the textile maker’s stock valued at $16,776,000 after acquiring an additional 20,829 shares in the last quarter. 70.52% of the stock is owned by institutional investors.
Skechers U.S.A. 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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