Equities research analysts predict that Skechers USA Inc (NYSE:SKX) will announce $0.23 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Skechers USA’s earnings, with estimates ranging from $0.22 to $0.25. Skechers USA posted earnings of $0.21 per share in the same quarter last year, which indicates a positive year over year growth rate of 9.5%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Skechers USA will report full year earnings of $1.85 per share for the current financial year, with EPS estimates ranging from $1.83 to $1.86. For the next financial year, analysts expect that the business will post earnings of $1.95 per share, with EPS estimates ranging from $1.85 to $2.04. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Skechers USA.
Skechers USA (NYSE:SKX) last posted its earnings results on Thursday, October 18th. The textile maker reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.07. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.22 billion. Skechers USA had a return on equity of 13.81% and a net margin of 4.13%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS.
SKX has been the subject of several research analyst reports. Wells Fargo & Co cut their price objective on Skechers USA from $30.00 to $26.00 and set a “market perform” rating for the company in a report on Wednesday, January 2nd. B. Riley set a $45.00 price objective on Skechers USA and gave the stock a “buy” rating in a report on Friday, October 19th. Buckingham Research cut their price objective on Skechers USA from $35.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, October 17th. ValuEngine lowered Skechers USA from a “hold” rating to a “sell” rating in a report on Tuesday, November 20th. Finally, Zacks Investment Research raised Skechers USA from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, December 12th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Skechers USA currently has an average rating of “Hold” and an average price target of $31.62.
In other Skechers USA news, President Michael Greenberg sold 75,630 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $29.28, for a total transaction of $2,214,446.40. Following the completion of the sale, the president now owns 593,309 shares of the company’s stock, valued at $17,372,087.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 27.88% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SKX. Vanguard Group Inc lifted its position in shares of Skechers USA by 2.1% in the third quarter. Vanguard Group Inc now owns 11,745,336 shares of the textile maker’s stock valued at $328,049,000 after acquiring an additional 239,133 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new position in Skechers USA during the third quarter valued at approximately $30,230,000. NINE MASTS CAPITAL Ltd boosted its stake in Skechers USA by 3.7% during the third quarter. NINE MASTS CAPITAL Ltd now owns 13,900 shares of the textile maker’s stock valued at $3,888,000 after buying an additional 500 shares during the last quarter. Vanguard Group Inc. boosted its stake in Skechers USA by 2.1% during the third quarter. Vanguard Group Inc. now owns 11,745,336 shares of the textile maker’s stock valued at $328,049,000 after buying an additional 239,133 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp bought a new position in Skechers USA during the third quarter valued at approximately $2,793,000. 74.26% of the stock is owned by institutional investors and hedge funds.
Shares of SKX opened at $25.27 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.43 and a quick ratio of 2.29. Skechers USA has a one year low of $21.45 and a one year high of $43.08. The firm has a market capitalization of $3.94 billion, a P/E ratio of 14.20, a PEG ratio of 1.83 and a beta of 0.56.
Skechers USA Company Profile
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Skechers USA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA and related companies with MarketBeat.com's FREE daily email newsletter.