Wall Street brokerages expect Skechers USA Inc (NYSE:SKX) to post sales of $885.20 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Skechers USA’s earnings. The lowest sales estimate is $884.60 million and the highest is $885.80 million. Skechers USA posted sales of $764.29 million in the same quarter last year, which would indicate a positive year over year growth rate of 15.8%. The firm is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Skechers USA will report full year sales of $885.20 million for the current financial year, with estimates ranging from $4.00 billion to $4.08 billion. For the next fiscal year, analysts forecast that the company will post sales of $4.52 billion per share, with estimates ranging from $4.36 billion to $4.62 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Skechers USA.

Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, October 19th. The textile maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.43 by $0.16. Skechers USA had a net margin of 6.38% and a return on equity of 13.70%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis.

A number of equities analysts recently issued reports on the stock. Cowen set a $36.00 price target on shares of Skechers USA and gave the stock a “buy” rating in a research note on Friday, October 20th. Susquehanna Bancshares reissued a “buy” rating and issued a $34.00 target price on shares of Skechers USA in a research report on Tuesday, October 10th. Monness Crespi & Hardt boosted their target price on Skechers USA from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of Skechers USA from a “sell” rating to a “hold” rating and set a $38.00 price target for the company in a research report on Monday, October 23rd. Finally, Vetr lowered shares of Skechers USA from a “buy” rating to a “hold” rating and set a $37.55 target price for the company. in a report on Monday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $36.80.

In other news, Director Thomas Walsh sold 750 shares of Skechers USA stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $34.81, for a total value of $26,107.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey Greenberg sold 180,000 shares of Skechers USA stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $31.72, for a total value of $5,709,600.00. The disclosure for this sale can be found here. Insiders sold 461,250 shares of company stock valued at $14,955,008 over the last 90 days. Company insiders own 38.20% of the company’s stock.

Several large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in shares of Skechers USA by 108.4% in the third quarter. Public Employees Retirement System of Ohio now owns 134,227 shares of the textile maker’s stock worth $3,368,000 after acquiring an additional 69,813 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Skechers USA by 249.3% during the third quarter. GSA Capital Partners LLP now owns 25,826 shares of the textile maker’s stock worth $648,000 after buying an additional 18,433 shares during the last quarter. Algert Global LLC acquired a new position in shares of Skechers USA in the 3rd quarter valued at $534,000. ICICI Prudential Asset Management Co Ltd lifted its stake in shares of Skechers USA by 30.2% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 18,100 shares of the textile maker’s stock valued at $454,000 after purchasing an additional 4,200 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Skechers USA by 1.3% in the 3rd quarter. California Public Employees Retirement System now owns 256,888 shares of the textile maker’s stock valued at $6,445,000 after purchasing an additional 3,188 shares during the last quarter. 70.13% of the stock is currently owned by hedge funds and other institutional investors.

Skechers USA (SKX) traded down $0.13 during trading hours on Friday, reaching $36.31. 1,314,504 shares of the company traded hands, compared to its average volume of 2,782,333. Skechers USA has a twelve month low of $22.31 and a twelve month high of $36.54. The company has a market capitalization of $5,750.00, a PE ratio of 22.14, a P/E/G ratio of 1.49 and a beta of 0.15. The company has a current ratio of 3.46, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04.

ILLEGAL ACTIVITY WARNING: This story was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://www.watchlistnews.com/885-20-million-in-sales-expected-for-skechers-usa-inc-skx-this-quarter/1760096.html.

About Skechers USA

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.

Get a free copy of the Zacks research report on Skechers USA (SKX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Skechers USA (NYSE:SKX)

Receive News & Ratings for Skechers USA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA and related companies with Analyst Ratings Network's FREE daily email newsletter.