Zacks: Brokerages Anticipate Skechers USA Inc (NYSE:SKX) Will Announce Quarterly Sales of $1.34 Billion

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.

Featured Article: What is the Gross Domestic Product (GDP)?

Get a free copy of the Zacks research report on Skechers USA (SKX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Skechers USA (NYSE:SKX)

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.