$885.20 Million in Sales Expected for Skechers USA Inc (SKX) This Quarter
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.
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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.
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