Skechers U.S.A. (NYSE:SKX) Announces Earnings Results

Skechers U.S.A. (NYSE:SKX) posted its quarterly earnings results on Thursday. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23, Briefing.com reports. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the firm posted $1.02 EPS. Skechers U.S.A.’s revenue for the quarter was up 12.5% compared to the same quarter last year.

Skechers U.S.A. Price Performance

NYSE SKX traded up $6.48 on Friday, hitting $65.30. The company had a trading volume of 6,411,345 shares, compared to its average volume of 1,704,068. The company has a market capitalization of $10.01 billion, a PE ratio of 19.23, a PEG ratio of 1.07 and a beta of 1.32. The company’s fifty day moving average price is $59.61 and its 200-day moving average price is $57.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 1.46. Skechers U.S.A. has a 12-month low of $45.58 and a 12-month high of $69.07.

Insider Buying and Selling

In other Skechers U.S.A. news, COO David Weinberg sold 67,390 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the sale, the chief operating officer now directly owns 141,405 shares in the company, valued at $8,183,107.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Skechers U.S.A. news, CEO Robert Greenberg sold 99,139 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $5,737,173.93. Following the completion of the sale, the chief executive officer now owns 196,050 shares of the company’s stock, valued at $11,345,413.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO David Weinberg sold 67,390 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $3,899,859.30. Following the completion of the sale, the chief operating officer now directly owns 141,405 shares of the company’s stock, valued at approximately $8,183,107.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,875 shares of company stock valued at $15,021,192. 24.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SKX has been the subject of a number of recent research reports. Wedbush raised their price target on shares of Skechers U.S.A. from $68.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays initiated coverage on shares of Skechers U.S.A. in a report on Monday, April 1st. They set an “overweight” rating and a $71.00 target price for the company. Stifel Nicolaus cut their target price on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Evercore ISI cut their target price on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Finally, Bank of America initiated coverage on shares of Skechers U.S.A. in a report on Friday, March 8th. They set a “neutral” rating and a $67.00 target price for the company. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus target price of $66.83.

About Skechers U.S.A.

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.