Skechers U.S.A. (NYSE:SKX – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $3.95-4.10 for the period, compared to the consensus EPS estimate of $3.90. The company issued revenue guidance of $8.725-8.875 billion, compared to the consensus revenue estimate of $8.78 billion. Skechers U.S.A. also updated its FY 2024 guidance to 3.950-4.100 EPS.
Skechers U.S.A. Stock Up 11.2 %
SKX stock traded up $6.59 during mid-day trading on Friday, hitting $65.41. 7,731,331 shares of the company were exchanged, compared to its average volume of 1,687,796. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38. Skechers U.S.A. has a 1-year low of $45.58 and a 1-year high of $69.07. The firm’s 50 day simple moving average is $59.73 and its 200 day simple moving average is $58.04. The firm has a market cap of $10.03 billion, a P/E ratio of 17.21, a P/E/G ratio of 1.07 and a beta of 1.32.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a return on equity of 13.76% and a net margin of 7.17%. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the company earned $1.02 earnings per share. Skechers U.S.A.’s quarterly revenue was up 12.5% on a year-over-year basis. On average, sell-side analysts predict that Skechers U.S.A. will post 3.81 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
View Our Latest Stock Analysis on Skechers U.S.A.
Insider Buying and Selling
In related news, CEO Robert Greenberg sold 30,339 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,854,016.29. Following the sale, the chief executive officer now owns 132,783 shares of the company’s stock, valued at $8,114,369.13. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Skechers U.S.A. news, CEO Robert Greenberg sold 30,339 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the completion of the sale, the chief executive officer now owns 132,783 shares of the company’s stock, valued at approximately $8,114,369.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Weinberg sold 67,390 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the completion of the transaction, the chief operating officer now owns 141,405 shares in the company, valued at approximately $8,183,107.35. The disclosure for this sale can be found here. Insiders have sold a total of 254,875 shares of company stock worth $15,021,192 in the last ninety days. Company insiders own 24.75% of the company’s stock.
Skechers U.S.A. Company Profile
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.
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