Skechers USA (SKX) Issues Quarterly Earnings Results

Skechers USA (NYSE:SKX) posted its quarterly earnings results on Thursday. The textile maker reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.08, Bloomberg Earnings reports. Skechers USA had a net margin of 6.49% and a return on equity of 14.19%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business posted $0.21 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. Skechers USA updated its Q1 2019 guidance to $0.70-0.75 EPS and its Q1 guidance to $0.70-0.75 EPS.

Shares of Skechers USA stock traded up $4.21 during trading on Friday, reaching $31.91. 14,298,954 shares of the stock were exchanged, compared to its average volume of 3,146,286. The company has a current ratio of 3.43, a quick ratio of 2.29 and a debt-to-equity ratio of 0.03. The firm has a market cap of $4.38 billion, a P/E ratio of 16.62, a P/E/G ratio of 2.06 and a beta of 0.62. Skechers USA has a 1 year low of $21.45 and a 1 year high of $43.08.

Several research firms have issued reports on SKX. Zacks Investment Research upgraded shares of Skechers USA from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Thursday, November 22nd. ValuEngine upgraded shares of Skechers USA from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Cfra lowered shares of Skechers USA from a “hold” rating to a “sell” rating in a research report on Friday. Stifel Nicolaus began coverage on shares of Skechers USA in a research report on Monday, December 17th. They set a “buy” rating and a $32.00 price target for the company. Finally, Monness Crespi & Hardt reiterated a “buy” rating and set a $35.00 target price (up from $32.00) on shares of Skechers USA in a report on Friday. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Skechers USA presently has an average rating of “Hold” and a consensus target price of $31.95.



Institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its holdings 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 purchasing an additional 423 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Skechers USA by 2,192.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,233,771 shares of the textile maker’s stock worth $54,000 after buying an additional 1,179,958 shares in the last quarter. Ffcm LLC raised its stake in Skechers USA by 131.7% in the fourth quarter. Ffcm LLC now owns 4,506 shares of the textile maker’s stock worth $103,000 after buying an additional 2,561 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Skechers USA by 68.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,002 shares of the textile maker’s stock worth $114,000 after buying an additional 2,035 shares in the last quarter. Finally, First Mercantile Trust Co. raised its stake in Skechers USA by 19.0% in 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 in the last quarter. Institutional investors own 73.86% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Skechers USA (SKX) Issues Quarterly Earnings Results” was first published by Dakota Financial News and is the sole property of of Dakota Financial News. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this news story can be viewed at https://dakotafinancialnews.com/2019/02/09/skechers-usa-skx-issues-quarterly-earnings-results.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.

Read More: The Role of a Fiduciary and Individual Investors

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.

Leave a Reply