Equities research analysts predict that Skechers USA Inc (NYSE:SKX) will post $1.34 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Skechers USA’s earnings, with the lowest sales estimate coming in at $1.33 billion and the highest estimate coming in at $1.34 billion. Skechers USA reported sales of $1.18 billion in the same quarter last year, which indicates a positive year over year growth rate of 13.6%. The company is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, October 22nd.
On average, analysts expect that Skechers USA will report full-year sales of $5.10 billion for the current year, with estimates ranging from $5.09 billion to $5.11 billion. For the next financial year, analysts forecast that the business will report sales of $5.58 billion, with estimates ranging from $5.51 billion to $5.66 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Skechers USA.
Skechers USA (NYSE:SKX) last announced its earnings results on Thursday, July 18th. The textile maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.33 by $0.16. Skechers USA had a return on equity of 14.59% and a net margin of 6.72%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year.
SKX has been the topic of several research analyst reports. Zacks Investment Research upped their target price on Skechers USA to $42.50 in a research report on Tuesday, October 15th. Morgan Stanley upped their target price on Skechers USA from $29.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Monness Crespi & Hardt restated a “buy” rating and set a $42.00 target price (up previously from $35.00) on shares of Skechers USA in a research report on Friday, July 19th. They noted that the move was a valuation call. UBS Group upped their target price on Skechers USA to $50.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Stifel Nicolaus upped their target price on Skechers USA from $35.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $40.35.
Shares of Skechers USA stock traded up $0.05 on Thursday, hitting $37.19. 2,097,136 shares of the company’s stock traded hands, compared to its average volume of 1,611,026. Skechers USA has a one year low of $21.45 and a one year high of $40.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.51 and a quick ratio of 1.65. The company has a fifty day moving average of $35.45 and a two-hundred day moving average of $32.96. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.10 and a beta of 0.80.
In related news, Director Richard Siskind sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $36.25, for a total transaction of $543,750.00. Following the transaction, the director now directly owns 172,499 shares of the company’s stock, valued at approximately $6,253,088.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey Greenberg sold 90,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $37.05, for a total value of $3,334,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 386,500 shares of company stock worth $13,995,705. 28.08% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. NuWave Investment Management LLC raised its stake in shares of Skechers USA by 271.4% in the third quarter. NuWave Investment Management LLC now owns 713 shares of the textile maker’s stock worth $26,000 after purchasing an additional 521 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of Skechers USA by 1,270.7% in the third quarter. Meeder Asset Management Inc. now owns 1,028 shares of the textile maker’s stock worth $39,000 after purchasing an additional 953 shares during the last quarter. Hanseatic Management Services Inc. purchased a new stake in shares of Skechers USA in the second quarter worth approximately $43,000. Cerebellum GP LLC purchased a new stake in shares of Skechers USA in the third quarter worth approximately $63,000. Finally, Machina Capital S.A.S. purchased a new stake in shares of Skechers USA in the second quarter worth approximately $120,000. 76.30% of the stock is currently owned by institutional investors and hedge funds.
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.
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