Skechers USA (SKX) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS
Skechers USA (NYSE:SKX) released its quarterly earnings data on Thursday. The textile maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01), MarketWatch Earnings reports. Skechers USA had a net margin of 6.49% and a return on equity of 14.08%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the company earned $0.75 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Skechers USA updated its Q2 guidance to $0.30-0.35 EPS.
NYSE SKX opened at $31.60 on Friday. Skechers USA has a 1 year low of $21.45 and a 1 year high of $42.58. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 2.44 and a beta of 0.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.91 and a quick ratio of 1.89.
Several equities analysts have issued reports on SKX shares. Cfra downgraded shares of Skechers USA from a “hold” rating to a “sell” rating in a research note on Friday, February 8th. UBS Group upped their price objective on shares of Skechers USA from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, February 11th. Wells Fargo & Co decreased their price objective on shares of Skechers USA from $30.00 to $26.00 and set a “market perform” rating for the company in a research note on Wednesday, January 2nd. ValuEngine downgraded shares of Skechers USA from a “hold” rating to a “sell” rating in a research note on Saturday, January 5th. Finally, Morgan Stanley set a $29.00 price objective on shares of Skechers USA and gave the company a “hold” rating in a research note on Friday, February 8th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $32.33.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Highland Capital Management LLC boosted its stake in shares of Skechers USA by 0.9% during the first quarter. Highland Capital Management LLC now owns 42,591 shares of the textile maker’s stock worth $1,431,000 after buying an additional 389 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Skechers USA by 42.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,423 shares of the textile maker’s stock worth $33,000 after buying an additional 423 shares during the period. NINE MASTS CAPITAL Ltd boosted its stake in shares of Skechers USA by 3.7% during the third quarter. NINE MASTS CAPITAL Ltd now owns 13,900 shares of the textile maker’s stock worth $3,888,000 after buying an additional 500 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Skechers USA by 0.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 108,187 shares of the textile maker’s stock worth $2,476,000 after buying an additional 620 shares during the period. Finally, First Mercantile Trust Co. boosted its stake in shares of Skechers USA by 19.0% during the fourth quarter. First Mercantile Trust Co. now owns 5,901 shares of the textile maker’s stock worth $135,000 after buying an additional 941 shares during the period. Institutional investors and hedge funds own 76.86% of the company’s stock.
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Skechers USA Company Profile
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.
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