Wall Street analysts expect Skechers USA Inc (NYSE:SKX) to announce $0.74 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Skechers USA’s earnings, with the lowest EPS estimate coming in at $0.71 and the highest estimate coming in at $0.77. Skechers USA reported earnings per share of $0.60 during the same quarter last year, which indicates a positive year-over-year growth rate of 23.3%. The company is scheduled to report its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Skechers USA will report full year earnings of $2.30 per share for the current year, with EPS estimates ranging from $2.25 to $2.33. For the next financial year, analysts expect that the firm will report earnings of $2.63 per share, with EPS estimates ranging from $2.52 to $2.78. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Skechers USA.
Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, February 8th. The textile maker reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. Skechers USA had a return on equity of 14.63% and a net margin of 4.30%. The firm had revenue of $970.59 million during the quarter, compared to analysts’ expectations of $881.39 million. During the same period in the prior year, the business earned $0.04 EPS. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year.
A number of equities analysts have recently issued reports on SKX shares. Zacks Investment Research upgraded Skechers USA from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Tuesday, January 2nd. ValuEngine upgraded Skechers USA from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Wedbush reiterated a “buy” rating and issued a $45.00 price objective (up from $39.00) on shares of Skechers USA in a report on Wednesday, January 3rd. Citigroup boosted their target price on Skechers USA from $34.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Argus raised Skechers USA from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $41.29.
Skechers USA (SKX) traded up $0.01 on Friday, hitting $41.19. The stock had a trading volume of 1,250,773 shares, compared to its average volume of 2,241,143. Skechers USA has a 1 year low of $22.64 and a 1 year high of $42.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.52 and a quick ratio of 2.06. The stock has a market cap of $6,520.00, a PE ratio of 23.01, a P/E/G ratio of 1.18 and a beta of 0.24.
Skechers USA announced that its board has authorized a share repurchase plan on Thursday, February 8th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the textile maker to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
In other Skechers USA news, CEO Robert Greenberg sold 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $37.66, for a total transaction of $18,830,000.00. Following the completion of the transaction, the chief executive officer now owns 267,713 shares of the company’s stock, valued at approximately $10,082,071.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Rappaport sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $38.24, for a total value of $38,240.00. Following the transaction, the director now directly owns 19,000 shares of the company’s stock, valued at approximately $726,560. The disclosure for this sale can be found here. In the last three months, insiders sold 501,156 shares of company stock valued at $18,874,792. 38.20% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new position in Skechers USA during the 4th quarter valued at approximately $139,000. CIBC Asset Management Inc bought a new position in Skechers USA during the 4th quarter valued at approximately $202,000. Advisor Partners LLC bought a new position in Skechers USA during the 4th quarter valued at approximately $203,000. Dearborn Partners LLC bought a new position in Skechers USA during the 4th quarter valued at approximately $214,000. Finally, Private Advisor Group LLC bought a new position in Skechers USA during the 4th quarter valued at approximately $222,000. 73.14% of the stock is owned by institutional investors and hedge funds.
Skechers USA Company Profile
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
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