Skechers USA Inc (SKX) Expected to Post Earnings of $0.33 Per Share

Brokerages expect Skechers USA Inc (NYSE:SKX) to report $0.33 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Skechers USA’s earnings. The highest EPS estimate is $0.34 and the lowest is $0.31. Skechers USA posted earnings of $0.29 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.8%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Skechers USA will report full-year earnings of $2.02 per share for the current financial year, with EPS estimates ranging from $1.98 to $2.05. For the next year, analysts expect that the business will post earnings of $2.25 per share, with EPS estimates ranging from $2.10 to $2.32. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Skechers USA.

Skechers USA (NYSE:SKX) last announced its quarterly earnings data on Thursday, April 18th. The textile maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01). The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.30 billion. Skechers USA had a net margin of 6.26% and a return on equity of 13.56%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 earnings per share.

Several equities analysts have issued reports on the stock. Susquehanna Bancshares raised shares of Skechers USA from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $32.00 to $37.00 in a research note on Wednesday, March 27th. Monness Crespi & Hardt reissued a “buy” rating and issued a $35.00 price objective (up from $32.00) on shares of Skechers USA in a research note on Friday, February 8th. B. Riley reissued a “buy” rating on shares of Skechers USA in a research note on Friday, April 26th. Standpoint Research cut shares of Skechers USA from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. Finally, Cowen reissued a “hold” rating and issued a $34.00 price objective on shares of Skechers USA in a research note on Tuesday, February 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $32.33.

In other Skechers USA news, Director Jeffrey Greenberg sold 30,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $32.33, for a total transaction of $969,900.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Phillip Paccione sold 9,693 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $31.17, for a total transaction of $302,130.81. Following the sale, the general counsel now owns 64,693 shares in the company, valued at $2,016,480.81. The disclosure for this sale can be found here. Insiders have sold a total of 149,690 shares of company stock worth $4,826,486 over the last 90 days. Insiders own 28.08% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Inc. boosted its position in shares of Skechers USA by 5.6% during the 4th quarter. Advisor Group Inc. now owns 25,769 shares of the textile maker’s stock worth $589,000 after purchasing an additional 1,378 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of Skechers USA by 3.1% in the 4th quarter. Texas Permanent School Fund now owns 87,610 shares of the textile maker’s stock worth $2,005,000 after buying an additional 2,606 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Skechers USA by 2,192.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,233,771 shares of the textile maker’s stock worth $54,000 after buying an additional 1,179,958 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Skechers USA by 50.5% in the 4th quarter. Prudential Financial Inc. now owns 1,260,252 shares of the textile maker’s stock worth $28,847,000 after buying an additional 423,054 shares in the last quarter. Finally, Boston Partners boosted its position in shares of Skechers USA by 35.7% in the 4th quarter. Boston Partners now owns 1,955,660 shares of the textile maker’s stock worth $44,765,000 after buying an additional 514,734 shares in the last quarter. Institutional investors own 76.49% of the company’s stock.

SKX traded up $0.67 during trading on Friday, hitting $30.68. The stock had a trading volume of 1,612,072 shares, compared to its average volume of 2,361,718. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.00 and a current ratio of 2.91. The stock has a market capitalization of $4.72 billion, a P/E ratio of 15.98, a P/E/G ratio of 2.08 and a beta of 0.66. Skechers USA has a twelve month low of $21.45 and a twelve month high of $35.66.

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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