Q1 2018 EPS Estimates for Skechers USA Inc Lowered by B. Riley (SKX)

Skechers USA Inc (NYSE:SKX) – Equities research analysts at B. Riley decreased their Q1 2018 EPS estimates for Skechers USA in a research note issued on Friday. B. Riley analyst J. Van. Sinderen now anticipates that the textile maker will earn $0.71 per share for the quarter, down from their prior forecast of $0.79. B. Riley has a “Buy” rating and a $50.00 price objective on the stock. B. Riley also issued estimates for Skechers USA’s Q2 2018 earnings at $0.56 EPS, Q3 2018 earnings at $0.77 EPS, FY2018 earnings at $2.33 EPS and FY2019 earnings at $2.78 EPS.

Skechers USA (NYSE:SKX) last issued its quarterly earnings data on Thursday, February 8th. The textile maker reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.08. The firm had revenue of $970.59 million during the quarter, compared to the consensus estimate of $881.39 million. Skechers USA had a return on equity of 14.73% and a net margin of 4.30%. The firm’s revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 EPS.

A number of other brokerages have also issued reports on SKX. Vetr upgraded Skechers USA from a “sell” rating to a “hold” rating and set a $39.03 price target for the company in a research report on Monday. Citigroup boosted their price target on Skechers USA from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday. Monness Crespi & Hardt boosted their price target on Skechers USA from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday. ValuEngine upgraded Skechers USA from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research lowered Skechers USA from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.00.

Skechers USA (NYSE:SKX) opened at $41.06 on Monday. The company has a market capitalization of $6,510.00, a price-to-earnings ratio of 35.70, a P/E/G ratio of 1.34 and a beta of 0.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.30 and a current ratio of 3.46. Skechers USA has a 52 week low of $22.64 and a 52 week high of $42.73.

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new stake in shares of Skechers USA during the fourth quarter worth $139,000. PNC Financial Services Group Inc. raised its position in shares of Skechers USA by 6.6% during the second quarter. PNC Financial Services Group Inc. now owns 5,428 shares of the textile maker’s stock worth $161,000 after purchasing an additional 335 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of Skechers USA during the fourth quarter worth $202,000. Advisor Partners LLC acquired a new stake in shares of Skechers USA during the fourth quarter worth $203,000. Finally, Dearborn Partners LLC acquired a new stake in shares of Skechers USA during the fourth quarter worth $214,000. 69.68% of the stock is currently owned by institutional investors.

In other news, Director Thomas Walsh sold 750 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $34.81, for a total value of $26,107.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Rappaport sold 1,000 shares of the company’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $38.24, for a total value of $38,240.00. Following the completion of the sale, the director now owns 19,000 shares of the company’s stock, valued at approximately $726,560. The disclosure for this sale can be found here. In the last 90 days, insiders sold 580,750 shares of company stock valued at $21,665,988. Insiders own 21.73% of the company’s stock.

Skechers USA announced that its Board of Directors has initiated a share repurchase 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. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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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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