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.

In other news, Director Jeffrey Greenberg sold 29,769 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $35.00, for a total transaction of $1,041,915.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Greenberg sold 50,420 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $34.09, for a total transaction of $1,718,817.80. Following the sale, the chief executive officer now owns 700,420 shares of the company’s stock, valued at approximately $23,877,317.80. The disclosure for this sale can be found here. Insiders have sold 524,877 shares of company stock valued at $17,733,801 in the last quarter. Insiders own 27.88% of the company’s stock.

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.

TRADEMARK VIOLATION WARNING: This report was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The original version of this report can be viewed at https://www.watchlistnews.com/skechers-usa-skx-issues-quarterly-earnings-results-misses-expectations-by-0-02-eps/2971298.html.

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.

Featured Story: What is a stock buyback?

Earnings History 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 MarketBeat.com's FREE daily email newsletter.