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.
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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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