Wall Street analysts forecast that Skechers USA Inc (NYSE:SKX) will announce $1.11 billion in sales for the current quarter, according to Zacks. Two analysts have made estimates for Skechers USA’s earnings. The highest sales estimate is $1.11 billion and the lowest is $1.10 billion. Skechers USA posted sales of $970.59 million during the same quarter last year, which suggests a positive year-over-year growth rate of 14.4%. 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 sales of $4.68 billion for the current fiscal year, with estimates ranging from $4.66 billion to $4.70 billion. For the next financial year, analysts anticipate that the company will report sales of $5.14 billion, with estimates ranging from $5.05 billion to $5.27 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Skechers USA.
Skechers USA (NYSE:SKX) last released its earnings results on Thursday, October 18th. The textile maker reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.07. Skechers USA had a net margin of 4.13% and a return on equity of 13.81%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the business earned $0.59 EPS. The business’s revenue was up 7.5% on a year-over-year basis.
Several research firms have recently commented on SKX. Zacks Investment Research upgraded shares of Skechers USA from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. ValuEngine upgraded shares of Skechers USA from a “hold” rating to a “buy” rating in a research note on Friday, October 19th. Standpoint Research upgraded shares of Skechers USA from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. B. Riley set a $50.00 price objective on shares of Skechers USA and gave the company a “buy” rating in a research note on Tuesday, July 17th. Finally, Cowen cut shares of Skechers USA from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $32.00 to $28.00 in a research note on Thursday, September 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $34.79.
In related news, President Michael Greenberg sold 75,630 shares of the firm’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $29.28, for a total value of $2,214,446.40. Following the completion of the sale, the president now owns 593,309 shares in the company, valued at $17,372,087.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.88% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. US Bancorp DE increased its holdings in Skechers USA by 169.5% during the 2nd quarter. US Bancorp DE now owns 4,069 shares of the textile maker’s stock valued at $122,000 after acquiring an additional 2,559 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new position in Skechers USA during the 2nd quarter valued at about $141,000. First Mercantile Trust Co. purchased a new position in Skechers USA during the 3rd quarter valued at about $139,000. NuWave Investment Management LLC increased its holdings in Skechers USA by 92.2% during the 3rd quarter. NuWave Investment Management LLC now owns 5,011 shares of the textile maker’s stock valued at $140,000 after acquiring an additional 2,404 shares in the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new position in Skechers USA during the 3rd quarter valued at about $201,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.
SKX stock opened at $28.95 on Wednesday. Skechers USA has a one year low of $23.80 and a one year high of $43.08. The firm has a market capitalization of $4.66 billion, a PE ratio of 16.26, a PEG ratio of 2.28 and a beta of 0.39. The company has a quick ratio of 2.29, a current ratio of 3.43 and a debt-to-equity ratio of 0.03.
About Skechers USA
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.
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