Wall Street brokerages expect Skechers USA Inc (NYSE:SKX) to announce $0.69 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Skechers USA’s earnings. The lowest EPS estimate is $0.66 and the highest is $0.72. Skechers USA posted earnings per share of $0.58 during the same quarter last year, which would suggest a positive year over year growth rate of 19%. The firm is expected to report its next quarterly earnings report after the market closes on Tuesday, October 22nd.
On average, analysts expect that Skechers USA will report full-year earnings of $2.27 per share for the current fiscal year, with EPS estimates ranging from $2.22 to $2.32. For the next year, analysts expect that the company will post earnings of $2.55 per share, with EPS estimates ranging from $2.40 to $2.65. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Skechers USA.
Several equities analysts have recently commented on SKX shares. UBS Group boosted their price target on shares of Skechers USA to $50.00 and gave the company a “buy” rating in a report on Friday, July 19th. Susquehanna Bancshares boosted their price target on shares of Skechers USA from $37.00 to $42.00 and gave the company a “positive” rating in a report on Friday, July 19th. ValuEngine cut shares of Skechers USA from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Wedbush set a $46.00 price target on shares of Skechers USA and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Monness Crespi & Hardt restated a “buy” rating and set a $42.00 price target (up from $35.00) on shares of Skechers USA in a report on Friday, July 19th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $40.35.
Shares of Skechers USA stock traded up $0.50 on Tuesday, hitting $38.00. 3,002,993 shares of the company traded hands, compared to its average volume of 2,258,169. The company has a 50-day moving average price of $35.93 and a 200 day moving average price of $33.03. The company has a quick ratio of 1.65, a current ratio of 2.51 and a debt-to-equity ratio of 0.43. Skechers USA has a 12-month low of $21.45 and a 12-month high of $40.50. The company has a market cap of $6.01 billion, a PE ratio of 19.79, a PEG ratio of 1.09 and a beta of 0.80.
In related news, Director Jeffrey Greenberg sold 100,000 shares of Skechers USA stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $34.53, for a total value of $3,453,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard Siskind sold 15,000 shares of Skechers USA stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $36.25, for a total transaction of $543,750.00. Following the completion of the sale, the director now directly owns 172,499 shares of the company’s stock, valued at approximately $6,253,088.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 386,500 shares of company stock valued at $13,995,705. 28.08% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. NuWave Investment Management LLC lifted its position in Skechers USA by 271.4% during the 3rd quarter. NuWave Investment Management LLC now owns 713 shares of the textile maker’s stock worth $26,000 after acquiring an additional 521 shares during the last quarter. Meeder Asset Management Inc. lifted its position in Skechers USA by 1,270.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,028 shares of the textile maker’s stock worth $39,000 after acquiring an additional 953 shares during the last quarter. Hanseatic Management Services Inc. acquired a new position in Skechers USA during the 2nd quarter worth $43,000. Cerebellum GP LLC acquired a new position in Skechers USA during the 3rd quarter worth $63,000. Finally, Atria Investments LLC acquired a new position in Skechers USA during the 2nd quarter worth $346,000. 76.34% of the stock is owned by institutional investors and hedge funds.
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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