Equities analysts predict that Skechers U.S.A., Inc. (NYSE:SKX) will report earnings of $0.40 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Skechers U.S.A.’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.42. Skechers U.S.A. posted earnings per share of $0.38 during the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The firm is scheduled to announce its next earnings results on Monday, January 1st.
On average, analysts expect that Skechers U.S.A. will report full-year earnings of $2.07 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.18. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.35 per share, with EPS estimates ranging from $2.22 to $2.52. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Skechers U.S.A..
Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, April 19th. The textile maker reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. Skechers U.S.A. had a return on equity of 15.30% and a net margin of 4.67%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the business posted $0.60 earnings per share.
Several research analysts recently commented on SKX shares. Citigroup lifted their price target on Skechers U.S.A. from $34.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Vetr lowered Skechers U.S.A. from a “hold” rating to a “sell” rating and set a $38.81 target price for the company. in a research report on Monday, January 22nd. Wedbush restated an “outperform” rating and set a $45.00 target price on shares of Skechers U.S.A. in a research report on Wednesday, January 31st. ValuEngine upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $42.40.
Skechers U.S.A. traded down $0.09, hitting $28.93, on Thursday, according to Marketbeat.com. The company had a trading volume of 3,113,600 shares, compared to its average volume of 2,901,889. The firm has a market cap of $4.64 billion, a P/E ratio of 16.63, a P/E/G ratio of 0.78 and a beta of 0.36. Skechers U.S.A. has a 12-month low of $28.91 and a 12-month high of $29.67. The company has a current ratio of 3.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.03.
Skechers U.S.A. announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 8th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the textile maker to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, COO David Weinberg sold 23,183 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $40.34, for a total value of $935,202.22. Following the completion of the sale, the chief operating officer now owns 476,187 shares in the company, valued at $19,209,383.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Greenberg sold 37,814 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $40.34, for a total value of $1,525,416.76. Following the completion of the sale, the chief executive officer now owns 704,397 shares of the company’s stock, valued at approximately $28,415,374.98. The disclosure for this sale can be found here. Insiders sold 120,496 shares of company stock valued at $4,512,908 in the last quarter. 27.88% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Artisan Partners Limited Partnership raised its stake in Skechers U.S.A. by 130.3% in the first quarter. Artisan Partners Limited Partnership now owns 3,918,203 shares of the textile maker’s stock worth $152,379,000 after buying an additional 2,216,530 shares in the last quarter. Capital Growth Management LP bought a new position in Skechers U.S.A. in the fourth quarter worth approximately $66,598,000. Amerigo Asset Management raised its stake in Skechers U.S.A. by 33.8% in the first quarter. Amerigo Asset Management now owns 4,180,411 shares of the textile maker’s stock worth $162,576,000 after buying an additional 1,056,177 shares in the last quarter. BlackRock Inc. raised its stake in Skechers U.S.A. by 6.5% in the fourth quarter. BlackRock Inc. now owns 12,404,460 shares of the textile maker’s stock worth $469,385,000 after buying an additional 756,078 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in Skechers U.S.A. by 45.3% in the fourth quarter. Teachers Advisors LLC now owns 1,826,444 shares of the textile maker’s stock worth $69,113,000 after buying an additional 569,715 shares in the last quarter. Hedge funds and other institutional investors own 73.98% of the company’s stock.
About Skechers U.S.A.
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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