$0.55 per share earnings expected for Skechers USA, Inc. (NYSE: SKX) this quarter
Wall Street brokers expect Skechers USA, Inc. (NYSE: SKX – Get Rating) to report earnings per share (EPS) of $0.55 for the current quarter, according to Zacks. Five analysts have made estimates for Skechers USA earnings, with estimates ranging from $0.53 to $0.56. Skechers USA reported earnings of $0.88 per share in the same quarter last year, suggesting a negative 37.5% year-over-year growth rate. The company is due to announce its next results on Monday, January 1.
On average, analysts expect Skechers USA to report annual earnings of $2.84 per share for the current fiscal year, with EPS estimates ranging from $2.79 to $2.95. For the next fiscal year, analysts expect the company to report earnings of $3.57 per share, with EPS estimates ranging from $3.20 to $3.85. Zacks Investment Research’s earnings per share averages are an average average based on a survey of sell-side analysts who track Skechers USA.
Skechers USA (NYSE:SKX – Get Rating) last released its quarterly results on Tuesday, April 26. The textile maker reported earnings per share of $0.80 for the quarter, beating consensus analyst estimates of $0.72 from $0.08. Skechers USA had a return on equity of 12.94% and a net margin of 11.45%. In the same quarter of the previous year, the company achieved EPS of $0.63.
A number of analysts have commented on SKX shares. OTR Global upgraded Skechers USA shares from a “mixed” rating to a “positive” rating in a Tuesday, April 5 research note. Berenberg Bank reaffirmed a “buy” rating and set a target price of $71.00 on Skechers USA shares in a research report Tuesday. StockNews.com began covering Skechers USA in a research report on Thursday, March 31. They issued a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Skechers USA from $62.00 to $61.00 in a Monday, April 25 research note. Four analysts gave the stock a hold rating and nine gave the company a buy rating. According to data from MarketBeat.com, the stock currently has a consensus buy rating and a consensus target price of $56.78.
In other Skechers USA news, General Counsel Phillip Paccione sold 11,696 shares in a trade dated Wednesday, March 2. The shares were sold at an average price of $43.30, for a total value of $506,436.80. The transaction was disclosed in a legal filing with the SEC, which is available via this link. Additionally, Chairman Michael Greenberg acquired 28,000 shares of the company in a transaction on Monday, March 7. The shares were purchased at an average cost of $35.20 per share, for a total transaction of $985,600.00. Disclosure of this purchase can be found here. In the past 90 days, insiders have sold 153,501 shares of the company valued at $6,646,593. Company insiders own 24.44% of the company’s shares.
Several institutional investors and hedge funds have recently increased or reduced their stake in SKX. Fifth Third Bancorp increased its equity stake in Skechers USA by 79.3% during the 1st quarter. Fifth Third Bancorp now owns 710 shares of the textile maker worth $29,000 after buying 314 more shares last quarter. Covestor Ltd bought a new stake in shares of Skechers USA in the fourth quarter worth $31,000. Allworth Financial LP increased its stake in Skechers USA shares by 198.4% in the fourth quarter. Allworth Financial LP now owns 761 shares of the textile maker worth $33,000 after buying an additional 506 shares in the last quarter. Cornerstone Advisory LLC acquired a new stake in Skechers USA in the fourth quarter valued at $34,000. Finally, Prospera Financial Services Inc bought a new position in Skechers USA during Q1 worth $34,000. 79.71% of the shares are currently held by institutional investors.
Shares of SKX opened at $38.22 on Wednesday. The stock has a 50-day simple moving average of $39.02 and a 200-day simple moving average of $42.69. The stock has a market capitalization of $5.96 billion, a P/E ratio of 7.85 and a beta of 1.33. The company has a quick ratio of 1.41, a current ratio of 2.44 and a debt ratio of 0.07. Skechers USA has a fifty-two-week low of $33.50 and a fifty-two-week high of $55.87.
About Skechers Canada (Get an evaluation)
Skechers U.SA, Inc designs, develops, markets and distributes footwear for men, women and children; and performance footwear for men and women worldwide. The Company operates through three segments: Domestic Wholesale, International Wholesale and Direct-to-Consumer. It offers casual, athletic casual, athletic, trail shoes, sandals, boots and retro fashion shoes for men and women under the brands Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason and BOBS; sneakers, casual shoes, boots and sandals for boys and girls under the brands Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit and Skechers Street; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail and Skechers GO Golf brands.
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