Equities research analysts expect Skechers USA Inc (NYSE:SKX) to announce sales of $1.11 billion for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Skechers USA’s earnings, with estimates ranging from $1.10 billion to $1.11 billion. Skechers USA posted sales of $970.59 million during the same quarter last year, which indicates a positive year-over-year growth rate of 14.4%. The company is expected to announce its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Skechers USA will report full-year sales of $4.68 billion for the current financial year, with estimates ranging from $4.66 billion to $4.70 billion. For the next financial year, analysts anticipate that the company will report sales of $5.14 billion, with estimates ranging from $5.05 billion to $5.25 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Skechers USA.
Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, October 18th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.22 billion. Skechers USA had a return on equity of 13.81% and a net margin of 4.13%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 EPS.
SKX has been the subject of a number of analyst reports. Citigroup cut their target price on Skechers USA from $44.00 to $35.00 and set a “$27.32” rating for the company in a research note on Monday, July 23rd. Standpoint Research raised Skechers USA from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Buckingham Research cut their target price on Skechers USA from $42.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, July 20th. Monness Crespi & Hardt cut their target price on Skechers USA from $45.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, July 20th. Finally, ValuEngine raised Skechers USA from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Skechers USA currently has a consensus rating of “Hold” and a consensus price target of $34.79.
Shares of SKX stock opened at $30.15 on Wednesday. The company has a market cap of $4.66 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 2.28 and a beta of 0.39. Skechers USA has a 12-month low of $23.80 and a 12-month high of $43.08. The company has a quick ratio of 2.29, a current ratio of 3.43 and a debt-to-equity ratio of 0.03.
In related news, President Michael Greenberg sold 75,630 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $29.28, for a total value of $2,214,446.40. Following the sale, the president now owns 593,309 shares in the company, valued at approximately $17,372,087.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 27.88% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE grew its holdings in shares of Skechers USA by 169.5% in the 2nd quarter. US Bancorp DE now owns 4,069 shares of the textile maker’s stock worth $122,000 after acquiring an additional 2,559 shares during the period. NuWave Investment Management LLC grew its holdings in shares of Skechers USA by 92.2% in the 3rd quarter. NuWave Investment Management LLC now owns 5,011 shares of the textile maker’s stock worth $140,000 after acquiring an additional 2,404 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of Skechers USA in the 2nd quarter worth approximately $141,000. Strs Ohio acquired a new stake in shares of Skechers USA in the 2nd quarter worth approximately $184,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in shares of Skechers USA in the 3rd quarter worth approximately $201,000. Institutional investors and hedge funds own 69.55% of the company’s stock.
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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