Equities analysts forecast that Skechers U.S.A., Inc. (NYSE:SKX) will announce sales of $1.20 billion for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Skechers U.S.A.’s earnings. The highest sales estimate is $1.21 billion and the lowest is $1.17 billion. Skechers U.S.A. reported sales of $1.07 billion during the same quarter last year, which suggests a positive year over year growth rate of 12.1%. The company is expected to announce its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Skechers U.S.A. will report full year sales of $1.20 billion for the current fiscal year, with estimates ranging from $4.57 billion to $4.71 billion. For the next fiscal year, analysts forecast that the business will report sales of $5.14 billion per share, with estimates ranging from $5.01 billion to $5.24 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Skechers U.S.A..
Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 8th. The textile maker reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.08. Skechers U.S.A. had a return on equity of 14.63% and a net margin of 4.30%. The firm had revenue of $970.59 million for the quarter, compared to analysts’ expectations of $881.39 million. During the same period in the previous year, the firm earned $0.04 earnings per share. The business’s revenue was up 27.0% compared to the same quarter last year.
In related news, CEO Robert Greenberg sold 37,814 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $40.34, for a total value of $1,525,416.76. Following the sale, the chief executive officer now directly owns 704,397 shares of the company’s stock, valued at $28,415,374.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO David Weinberg sold 23,183 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $40.34, for a total value of $935,202.22. Following the completion of the sale, the chief operating officer now directly owns 476,187 shares in the company, valued at $19,209,383.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,286 shares of company stock worth $3,804,003. 21.73% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new stake in Skechers U.S.A. in the fourth quarter worth $139,000. CIBC Asset Management Inc purchased a new stake in shares of Skechers U.S.A. in the fourth quarter worth $202,000. Advisor Partners LLC purchased a new stake in shares of Skechers U.S.A. in the fourth quarter worth $203,000. Dearborn Partners LLC purchased a new stake in shares of Skechers U.S.A. in the fourth quarter worth $214,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Skechers U.S.A. in the fourth quarter worth $222,000. 73.10% of the stock is currently owned by institutional investors.
Shares of SKX traded up $0.13 during mid-day trading on Friday, hitting $42.32. 2,257,549 shares of the company’s stock traded hands, compared to its average volume of 2,061,290. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.06 and a current ratio of 3.52. Skechers U.S.A. has a 1 year low of $22.64 and a 1 year high of $42.73. The stock has a market capitalization of $6,637.71, a PE ratio of 23.80, a price-to-earnings-growth ratio of 1.20 and a beta of 0.31.
Skechers U.S.A. announced that its Board of Directors has authorized a stock buyback program on Thursday, February 8th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the textile maker to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Skechers U.S.A. 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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