Equities research analysts forecast that Skechers USA Inc (NYSE:SKX) will report earnings of $0.52 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Skechers USA’s earnings. The lowest EPS estimate is $0.51 and the highest is $0.54. Skechers USA reported earnings of $0.59 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 11.9%. The company is expected to report its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Skechers USA will report full-year earnings of $1.73 per share for the current year, with EPS estimates ranging from $1.67 to $1.80. For the next year, analysts expect that the business will post earnings of $1.97 per share, with EPS estimates ranging from $1.82 to $2.18. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Skechers USA.
Skechers USA (NYSE:SKX) last announced its quarterly earnings data on Thursday, July 19th. The textile maker reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.12). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Skechers USA had a net margin of 4.24% and a return on equity of 14.17%. Skechers USA’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Skechers USA from a “sell” rating to a “hold” rating in a report on Friday, July 20th. Standpoint Research upgraded Skechers USA from a “hold” rating to a “buy” rating in a report on Friday, July 20th. B. Riley set a $50.00 price objective on Skechers USA and gave the company a “buy” rating in a report on Tuesday, July 17th. Wedbush decreased their price objective on Skechers USA from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, June 8th. Finally, Argus cut Skechers USA from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Skechers USA has an average rating of “Hold” and a consensus price target of $37.45.
Institutional investors have recently bought and sold shares of the stock. Amalgamated Bank raised its position in shares of Skechers USA by 6.3% in the second quarter. Amalgamated Bank now owns 29,351 shares of the textile maker’s stock valued at $881,000 after buying an additional 1,738 shares in the last quarter. A.R.T. Advisors LLC raised its position in shares of Skechers USA by 7.5% in the first quarter. A.R.T. Advisors LLC now owns 27,270 shares of the textile maker’s stock valued at $1,060,000 after buying an additional 1,900 shares in the last quarter. Intact Investment Management Inc. raised its position in shares of Skechers USA by 34.5% in the second quarter. Intact Investment Management Inc. now owns 7,400 shares of the textile maker’s stock valued at $222,000 after buying an additional 1,900 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of Skechers USA by 3.3% in the first quarter. Mason Street Advisors LLC now owns 68,142 shares of the textile maker’s stock valued at $2,650,000 after buying an additional 2,161 shares in the last quarter. Finally, Verity Asset Management Inc. raised its position in shares of Skechers USA by 26.1% in the second quarter. Verity Asset Management Inc. now owns 11,278 shares of the textile maker’s stock valued at $338,000 after buying an additional 2,334 shares in the last quarter. Institutional investors and hedge funds own 73.23% of the company’s stock.
Shares of NYSE SKX traded down $0.15 during mid-day trading on Friday, hitting $29.29. The company had a trading volume of 1,544,650 shares, compared to its average volume of 6,536,633. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.70 and a beta of 0.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.28 and a quick ratio of 2.14. Skechers USA has a one year low of $23.80 and a one year high of $43.08.
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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