Zacks: Analysts Anticipate Skechers U.S.A., Inc. (NYSE:SKX) to Announce $0.32 EPS

Equities research analysts predict that Skechers U.S.A., Inc. (NYSE:SKX) will post earnings of $0.32 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Skechers U.S.A.’s earnings. The highest EPS estimate is $0.33 and the lowest is $0.30. Skechers U.S.A. reported earnings per share of $0.24 in the same quarter last year, which would suggest a positive year-over-year growth rate of 33.3%. The business is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Skechers U.S.A. will report full year earnings of $2.48 per share for the current financial year, with EPS estimates ranging from $2.46 to $2.50. For the next financial year, analysts anticipate that the company will report earnings of $2.94 per share, with EPS estimates ranging from $2.82 to $3.02. Zacks’ EPS calculations are an average based on a survey of analysts that follow Skechers U.S.A..

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, October 28th. The textile maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.05). Skechers U.S.A. had a return on equity of 12.87% and a net margin of 6.58%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Skechers U.S.A.’s revenue for the quarter was up 19.2% compared to the same quarter last year.

A number of equities research analysts have recently weighed in on SKX shares. Rowe upgraded Skechers U.S.A. to a “buy” rating in a report on Tuesday, October 19th. OTR Global lowered Skechers U.S.A. from a “positive” rating to a “mixed” rating in a research report on Thursday. Wedbush upgraded Skechers U.S.A. from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $47.00 to $54.00 in a research report on Tuesday, January 4th. Argus lowered Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $45.00 price target for the company. in a research report on Tuesday, November 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Skechers U.S.A. from $64.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, October 18th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $54.89.

A number of hedge funds and other institutional investors have recently modified their holdings of SKX. Spire Wealth Management boosted its stake in shares of Skechers U.S.A. by 1,118.1% during the 4th quarter. Spire Wealth Management now owns 7,662 shares of the textile maker’s stock worth $333,000 after acquiring an additional 7,033 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Skechers U.S.A. by 0.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 34,700 shares of the textile maker’s stock worth $1,506,000 after acquiring an additional 300 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Skechers U.S.A. by 19.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,669,003 shares of the textile maker’s stock worth $72,434,000 after acquiring an additional 272,730 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in Skechers U.S.A. by 15.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 11,869 shares of the textile maker’s stock valued at $515,000 after purchasing an additional 1,580 shares during the period. Finally, Jefferies Group LLC bought a new stake in Skechers U.S.A. during the 3rd quarter valued at approximately $421,000. Hedge funds and other institutional investors own 80.05% of the company’s stock.

SKX stock opened at $43.63 on Friday. Skechers U.S.A. has a 52-week low of $33.80 and a 52-week high of $55.87. The company has a quick ratio of 1.55, a current ratio of 2.47 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $6.80 billion, a PE ratio of 17.38 and a beta of 1.47. The stock’s 50 day moving average is $45.21 and its two-hundred day moving average is $47.08.

About Skechers U.S.A.

Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the following segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. The Domestic Wholesale segment distributes footwear through the local wholesale distribution channels including department stores, specialty stores, athletic specialty shoe stores and independent retailers, as well as catalog and internet retailers.

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