Skechers USA (NYSE:SKX) announced its quarterly earnings data on Thursday. The textile maker reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.08, Bloomberg Earnings reports. The company had revenue of $970.59 million for the quarter, compared to analysts’ expectations of $881.39 million. Skechers USA had a net margin of 6.38% and a return on equity of 13.70%. Skechers USA’s revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 EPS. Skechers USA updated its Q1 guidance to $0.70-0.75 EPS.
Shares of Skechers USA (NYSE:SKX) traded up $2.15 during mid-day trading on Friday, hitting $40.33. 4,258,943 shares of the stock traded hands, compared to its average volume of 1,843,870. The stock has a market cap of $6,050.00, a price-to-earnings ratio of 24.90, a P/E/G ratio of 1.33 and a beta of 0.20. Skechers USA has a 1-year low of $22.64 and a 1-year high of $42.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.30 and a current ratio of 3.46.
In other news, CEO Robert Greenberg sold 500,000 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $37.66, for a total transaction of $18,830,000.00. Following the transaction, the chief executive officer now directly owns 267,713 shares in the company, valued at approximately $10,082,071.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas Walsh sold 750 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $34.81, for a total transaction of $26,107.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 580,750 shares of company stock worth $21,665,988. Insiders own 21.73% of the company’s stock.
Skechers USA declared that its Board of Directors has authorized a stock buyback program on Thursday, February 8th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the textile maker to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
About Skechers USA
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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