Skechers USA Inc (NYSE:SKX) – Wedbush reduced their Q2 2020 EPS estimates for shares of Skechers USA in a research note issued on Tuesday, July 7th. Wedbush analyst C. Svezia now expects that the textile maker will earn ($0.74) per share for the quarter, down from their prior estimate of ($0.71). Wedbush has a “Outperform” rating and a $34.00 price objective on the stock. Wedbush also issued estimates for Skechers USA’s FY2020 earnings at $0.51 EPS.

A number of other analysts have also weighed in on SKX. UBS Group cut their price objective on Skechers USA from $50.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Susquehanna Bancshares boosted their target price on shares of Skechers USA from $32.00 to $39.00 in a research note on Friday. Monness Crespi & Hardt lowered their target price on shares of Skechers USA from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Deutsche Bank reiterated a “buy” rating and set a $28.00 target price on shares of Skechers USA in a research note on Friday, April 24th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Skechers USA in a research note on Thursday, May 14th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $38.54.

Skechers USA stock opened at $28.91 on Thursday. Skechers USA has a twelve month low of $17.06 and a twelve month high of $44.50. The stock’s fifty day simple moving average is $31.40 and its 200-day simple moving average is $32.31. The company has a current ratio of 3.10, a quick ratio of 2.15 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $4.46 billion, a P/E ratio of 15.46 and a beta of 1.22.

Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, April 23rd. The textile maker reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. Skechers USA had a return on equity of 12.17% and a net margin of 5.53%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the company earned $0.71 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis.

In other news, COO David Weinberg sold 37,500 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $26.19, for a total transaction of $982,125.00. Following the completion of the sale, the chief operating officer now owns 401,654 shares in the company, valued at $10,519,318.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Phillip Paccione sold 15,000 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $26.19, for a total transaction of $392,850.00. Following the sale, the general counsel now owns 60,000 shares of the company’s stock, valued at approximately $1,571,400. The disclosure for this sale can be found here. Insiders sold 115,052 shares of company stock valued at $3,086,092 in the last 90 days. 28.08% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in shares of Skechers USA by 13.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 24,922 shares of the textile maker’s stock worth $1,076,000 after buying an additional 2,870 shares during the period. Franklin Resources Inc. boosted its stake in shares of Skechers USA by 16.2% during the fourth quarter. Franklin Resources Inc. now owns 25,894 shares of the textile maker’s stock worth $1,119,000 after buying an additional 3,609 shares during the period. Rhumbline Advisers boosted its stake in shares of Skechers USA by 4.9% during the first quarter. Rhumbline Advisers now owns 365,598 shares of the textile maker’s stock worth $8,679,000 after buying an additional 16,982 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Skechers USA by 3.0% during the first quarter. Guggenheim Capital LLC now owns 110,317 shares of the textile maker’s stock worth $2,619,000 after buying an additional 3,212 shares during the period. Finally, Baird Financial Group Inc. boosted its stake in shares of Skechers USA by 4.2% during the fourth quarter. Baird Financial Group Inc. now owns 66,412 shares of the textile maker’s stock worth $2,868,000 after buying an additional 2,677 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

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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Earnings History and Estimates for Skechers USA (NYSE:SKX)

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