Equities analysts expect Skechers USA Inc (NYSE:SKX) to post earnings of $0.72 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Skechers USA’s earnings, with the lowest EPS estimate coming in at $0.70 and the highest estimate coming in at $0.75. Skechers USA reported earnings of $0.75 per share during the same quarter last year, which suggests a negative year over year growth rate of 4%. The business is scheduled to report its next earnings results on Monday, January 1st.
On average, analysts expect that Skechers USA will report full year earnings of $2.06 per share for the current financial year, with EPS estimates ranging from $1.97 to $2.15. For the next fiscal year, analysts forecast that the company will report earnings of $2.24 per share, with EPS estimates ranging from $2.07 to $2.38. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Skechers USA.
Get Skechers USA alerts:Skechers USA (NYSE:SKX) last announced its earnings results on Thursday, February 7th. The textile maker reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.08. Skechers USA had a return on equity of 14.08% and a net margin of 6.49%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the firm earned $0.21 EPS. Skechers USA’s revenue for the quarter was up 11.4% compared to the same quarter last year.
A number of research firms have weighed in on SKX. ValuEngine downgraded Skechers USA from a “hold” rating to a “sell” rating in a research note on Tuesday, November 20th. Zacks Investment Research upgraded Skechers USA from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Thursday, November 22nd. Stifel Nicolaus began coverage on Skechers USA in a research note on Monday, December 17th. They issued a “buy” rating and a $32.00 price target for the company. Finally, Wells Fargo & Co decreased their price target on Skechers USA from $30.00 to $26.00 and set a “market perform” rating for the company in a research note on Wednesday, January 2nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $31.91.
Skechers USA stock traded down $0.53 during midday trading on Friday, reaching $32.80. The stock had a trading volume of 1,538,581 shares, compared to its average volume of 2,859,140. Skechers USA has a 1-year low of $21.45 and a 1-year high of $43.08. The firm has a market cap of $5.24 billion, a PE ratio of 17.08, a P/E/G ratio of 2.35 and a beta of 0.62. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.89 and a current ratio of 2.91.
In related news, CEO Robert Greenberg sold 50,420 shares of Skechers USA stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $34.09, for a total transaction of $1,718,817.80. Following the completion of the sale, the chief executive officer now directly owns 700,420 shares of the company’s stock, valued at approximately $23,877,317.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Michael Greenberg sold 90,000 shares of Skechers USA stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $33.76, for a total value of $3,038,400.00. Following the sale, the president now directly owns 552,679 shares of the company’s stock, valued at $18,658,443.04. The disclosure for this sale can be found here. Insiders have sold a total of 393,699 shares of company stock valued at $13,387,092 over the last quarter. 27.88% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in SKX. Parkside Financial Bank & Trust lifted its holdings in Skechers USA by 42.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,423 shares of the textile maker’s stock worth $33,000 after purchasing an additional 423 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Skechers USA by 2,192.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,233,771 shares of the textile maker’s stock worth $54,000 after purchasing an additional 1,179,958 shares during the last quarter. Ffcm LLC lifted its holdings in Skechers USA by 131.7% during the 4th quarter. Ffcm LLC now owns 4,506 shares of the textile maker’s stock worth $103,000 after purchasing an additional 2,561 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Skechers USA by 68.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 5,002 shares of the textile maker’s stock worth $114,000 after purchasing an additional 2,035 shares during the last quarter. Finally, First Mercantile Trust Co. lifted its holdings in Skechers USA by 19.0% during the 4th quarter. First Mercantile Trust Co. now owns 5,901 shares of the textile maker’s stock worth $135,000 after purchasing an additional 941 shares during the last quarter. 74.72% of the stock is 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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