Skechers U.S.A., Inc. (NYSE:SKX) Set to Announce Quarterly Earnings on Wednesday
Skechers U.S.A., Inc. (NYSE:SKX) will be issuing its quarterly earnings data after the market closes on Wednesday, July 19th. Analysts expect the company to announce earnings of $0.44 per share for the quarter. Skechers U.S.A. has set its Q2 guidance at $0.42-0.47 EPS.
Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, April 20th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. Skechers U.S.A. had a return on equity of 14.20% and a net margin of 6.56%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The business’s revenue was up 9.6% compared to the same quarter last year. On average, analysts expect Skechers U.S.A. to post $1.78 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Skechers U.S.A., Inc. (SKX) opened at 28.76 on Monday. Skechers U.S.A., Inc. has a 52-week low of $18.81 and a 52-week high of $32.71. The stock’s 50 day moving average price is $26.15 and its 200-day moving average price is $25.78. The company has a market cap of $4.55 billion, a P/E ratio of 18.65 and a beta of 0.19.
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SKX has been the subject of several analyst reports. Cowen and Company raised Skechers U.S.A. from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research report on Friday, March 24th. Citigroup Inc. lowered their price objective on Skechers U.S.A. from $30.00 to $25.00 and set a “positive” rating for the company in a research report on Wednesday, March 29th. UFS reaffirmed a “sell” rating and set a $25.00 price objective on shares of Skechers U.S.A. in a research report on Wednesday, March 29th. Susquehanna Bancshares Inc reaffirmed a “negative” rating and set a $25.00 price objective (down from $30.00) on shares of Skechers U.S.A. in a research report on Wednesday, March 29th. Finally, Vetr cut Skechers U.S.A. from a “strong-buy” rating to a “buy” rating and set a $26.92 price objective for the company. in a research report on Thursday, April 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.93.
In other news, COO David Weinberg sold 23,502 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $25.08, for a total transaction of $589,430.16. Following the completion of the transaction, the chief operating officer now directly owns 193,502 shares of the company’s stock, valued at approximately $4,853,030.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard Rappaport sold 1,500 shares of the stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $28.38, for a total value of $42,570.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $567,600. The disclosure for this sale can be found here. 21.73% of the stock is owned by corporate insiders.
About Skechers U.S.A.
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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