$1.06 Billion in Sales Expected for Skechers U.S.A., Inc. (SKX) This Quarter
Equities analysts predict that Skechers U.S.A., Inc. (NYSE:SKX) will announce sales of $1.06 billion for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Skechers U.S.A.’s earnings, with the lowest sales estimate coming in at $1.05 billion and the highest estimate coming in at $1.08 billion. Skechers U.S.A. posted sales of $942.42 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.5%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Skechers U.S.A. will report full year sales of $1.06 billion for the current financial year, with estimates ranging from $4.00 billion to $4.07 billion. For the next financial year, analysts expect that the company will post sales of $4.49 billion per share, with estimates ranging from $4.36 billion to $4.59 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts 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 (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.06). The company 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 firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 earnings per share.
SKX has been the subject of several research analyst reports. Zacks Investment Research downgraded Skechers U.S.A. from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Citigroup Inc. raised their price target on Skechers U.S.A. from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Vetr upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a research note on Tuesday, June 20th. Buckingham Research set a $34.00 price target on Skechers U.S.A. and gave the company a “buy” rating in a research note on Saturday, July 22nd. Finally, BidaskClub upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.02.
Skechers U.S.A. (SKX) opened at 24.39 on Friday. 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 is $25.68 and its 200-day moving average is $26.54. The stock has a market capitalization of $3.86 billion, a P/E ratio of 16.91 and a beta of 0.19.
In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 1,004 shares of Skechers U.S.A. stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $27.24, for a total value of $27,348.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 21.73% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Seven Eight Capital LP purchased a new position in Skechers U.S.A. in the second quarter valued at about $105,000. Aviance Capital Management LLC purchased a new position in Skechers U.S.A. in the second quarter valued at about $109,000. Tower Research Capital LLC TRC grew its stake in Skechers U.S.A. by 430.9% in the first quarter. Tower Research Capital LLC TRC now owns 3,844 shares of the textile maker’s stock valued at $106,000 after purchasing an additional 3,120 shares during the last quarter. US Bancorp DE grew its stake in Skechers U.S.A. by 94.9% in the first quarter. US Bancorp DE now owns 3,895 shares of the textile maker’s stock valued at $107,000 after purchasing an additional 1,897 shares during the last quarter. Finally, Exane Derivatives purchased a new position in Skechers U.S.A. in the second quarter valued at about $118,000. Institutional investors own 70.52% of the company’s stock.
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About Skechers U.S.A.
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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