Skechers USA (SKX) Updates Q4 Earnings Guidance

Skechers USA (NYSE:SKX) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.20-0.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.18. The company issued revenue guidance of $1.100-1.125 billion, compared to the consensus revenue estimate of $1.08 billion.Skechers USA also updated its Q4 2018 guidance to $0.20-0.25 EPS.

SKX stock traded up $5.58 during midday trading on Friday, hitting $31.70. The company’s stock had a trading volume of 390,688 shares, compared to its average volume of 2,331,993. The company has a quick ratio of 2.14, a current ratio of 3.28 and a debt-to-equity ratio of 0.03. Skechers USA has a 52-week low of $23.80 and a 52-week high of $43.08. The stock has a market capitalization of $4.25 billion, a PE ratio of 17.49, a P/E/G ratio of 1.55 and a beta of 0.36.

Skechers USA (NYSE:SKX) last issued its quarterly earnings results on Thursday, October 18th. The textile maker reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.07. Skechers USA had a net margin of 4.24% and a return on equity of 14.17%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the company posted $0.59 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. Analysts expect that Skechers USA will post 1.72 EPS for the current fiscal year.

SKX has been the subject of several recent research reports. Citigroup decreased their price target on shares of Skechers USA from $44.00 to $35.00 and set a $27.32 rating for the company in a research report on Monday, July 23rd. Standpoint Research raised shares of Skechers USA from a hold rating to a buy rating in a research report on Friday, July 20th. Buckingham Research decreased their price target on shares of Skechers USA from $42.00 to $31.00 and set a buy rating for the company in a research report on Friday, July 20th. Monness Crespi & Hardt decreased their price target on shares of Skechers USA from $45.00 to $32.00 and set a buy rating for the company in a research report on Friday, July 20th. Finally, ValuEngine raised shares of Skechers USA from a hold rating to a buy rating in a research report on Thursday, July 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $36.20.

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

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