Skechers U.S.A., Inc. (SKX) Expected to Post Earnings of $0.75 Per Share

Wall Street analysts expect Skechers U.S.A., Inc. (NYSE:SKX) to report $0.75 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Skechers U.S.A.’s earnings, with the lowest EPS estimate coming in at $0.71 and the highest estimate coming in at $0.77. Skechers U.S.A. reported earnings of $0.60 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 25%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Skechers U.S.A. will report full year earnings of $2.30 per share for the current financial year, with EPS estimates ranging from $2.25 to $2.33. For the next financial year, analysts anticipate that the company will post earnings of $2.64 per share, with EPS estimates ranging from $2.52 to $2.78. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Skechers U.S.A..

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, February 8th. The textile maker reported $0.21 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 business had revenue of $970.59 million for the quarter, compared to analysts’ expectations of $881.39 million. During the same period in the prior year, the business posted $0.04 earnings per share. The firm’s revenue was up 27.0% on a year-over-year basis.



SKX has been the topic of several analyst reports. Vetr upgraded Skechers U.S.A. from a “sell” rating to a “hold” rating and set a $39.03 target price on the stock in a report on Monday, February 19th. Wedbush reissued a “buy” rating and issued a $45.00 price target (up from $39.00) on shares of Skechers U.S.A. in a research note on Wednesday, January 3rd. Argus raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. Citigroup boosted their price target on Skechers U.S.A. from $34.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Cowen set a $42.00 price target on Skechers U.S.A. and gave the company a “buy” rating in a research note on Monday, December 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Skechers U.S.A. presently has an average rating of “Buy” and a consensus price target of $42.77.

SKX stock traded up $0.13 during trading on Thursday, hitting $42.32. The company had a trading volume of 2,259,251 shares, compared to its average volume of 2,061,785. Skechers U.S.A. has a one year low of $22.64 and a one year high of $42.73. The stock has a market capitalization of $6,637.71, a PE ratio of 23.80, a PEG ratio of 1.20 and a beta of 0.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.52 and a quick ratio of 2.06.

Skechers U.S.A. declared that its Board of Directors has authorized a share repurchase program on Thursday, February 8th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the textile maker to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

In other news, CEO Robert Greenberg sold 37,814 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $40.34, for a total transaction of $1,525,416.76. Following the transaction, 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 Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Phillip Paccione sold 17,432 shares of the company’s stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $38.04, for a total value of $663,113.28. Following the transaction, the general counsel now directly owns 47,432 shares in the company, valued at $1,804,313.28. The disclosure for this sale can be found here. Insiders have sold 95,286 shares of company stock worth $3,804,003 over the last ninety days. 21.73% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Capital Growth Management LP purchased a new position in shares of Skechers U.S.A. during the 4th quarter valued at about $66,598,000. BlackRock Inc. raised its position in shares of Skechers U.S.A. by 6.5% during the 4th quarter. BlackRock Inc. now owns 12,404,460 shares of the textile maker’s stock valued at $469,385,000 after buying an additional 756,078 shares during the period. JPMorgan Chase & Co. raised its position in Skechers U.S.A. by 126.6% in the third quarter. JPMorgan Chase & Co. now owns 1,314,408 shares of the textile maker’s stock valued at $32,544,000 after purchasing an additional 734,414 shares during the period. Teachers Advisors LLC raised its position in Skechers U.S.A. by 45.3% in the fourth quarter. Teachers Advisors LLC now owns 1,826,444 shares of the textile maker’s stock valued at $69,113,000 after purchasing an additional 569,715 shares during the period. Finally, Davidson Kempner Capital Management LP raised its position in Skechers U.S.A. by 140.6% in the third quarter. Davidson Kempner Capital Management LP now owns 962,500 shares of the textile maker’s stock valued at $24,149,000 after purchasing an additional 562,500 shares during the period. 73.10% of the stock is currently owned by institutional investors.

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About Skechers U.S.A.

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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