Brokers Set Expectations for Skechers USA Inc’s Q1 2020 Earnings (NYSE:SKX)

Skechers USA Inc (NYSE:SKX) – Equities research analysts at Wedbush issued their Q1 2020 earnings estimates for shares of Skechers USA in a report issued on Monday, October 14th. Wedbush analyst C. Svezia anticipates that the textile maker will earn $0.80 per share for the quarter. Wedbush has a “Buy” rating and a $46.00 price target on the stock. Wedbush also issued estimates for Skechers USA’s Q2 2020 earnings at $0.58 EPS and Q3 2020 earnings at $0.76 EPS.

Skechers USA (NYSE:SKX) last released its earnings results on Thursday, July 18th. The textile maker reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.16. Skechers USA had a return on equity of 14.59% and a net margin of 6.72%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the business posted $0.29 EPS. The business’s revenue for the quarter was up 10.9% on a year-over-year basis.

Several other equities analysts have also recently weighed in on the company. Wells Fargo & Co set a $40.00 target price on Skechers USA and gave the company a “hold” rating in a research note on Friday, July 19th. Monness Crespi & Hardt reissued a “buy” rating and issued a $42.00 price target (up previously from $35.00) on shares of Skechers USA in a research note on Friday, July 19th. They noted that the move was a valuation call. ValuEngine cut Skechers USA from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research boosted their price target on Skechers USA to $42.50 in a research note on Tuesday. Finally, Susquehanna Bancshares boosted their price target on Skechers USA from $37.00 to $42.00 and gave the company a “positive” rating in a research note on Friday, July 19th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. Skechers USA has an average rating of “Hold” and an average price target of $39.88.

NYSE:SKX opened at $36.69 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.51 and a quick ratio of 1.65. Skechers USA has a fifty-two week low of $21.45 and a fifty-two week high of $40.50. The stock’s 50-day moving average is $35.01 and its two-hundred day moving average is $32.91. The stock has a market cap of $5.73 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.08 and a beta of 0.80.

In related news, Director Jeffrey Greenberg sold 90,000 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $39.24, for a total value of $3,531,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Walsh sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $39.77, for a total value of $59,655.00. Following the completion of the sale, the director now directly owns 15,500 shares of the company’s stock, valued at approximately $616,435. The disclosure for this sale can be found here. In the last three months, insiders sold 476,500 shares of company stock valued at $17,527,305. 28.08% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Coronation Fund Managers Ltd. lifted its holdings in Skechers USA by 3.4% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 200,274 shares of the textile maker’s stock worth $6,307,000 after purchasing an additional 6,656 shares during the last quarter. Sciencast Management LP acquired a new stake in Skechers USA in the 2nd quarter worth approximately $338,000. Tiverton Asset Management LLC lifted its holdings in Skechers USA by 102.7% in the 2nd quarter. Tiverton Asset Management LLC now owns 99,200 shares of the textile maker’s stock worth $3,124,000 after purchasing an additional 50,254 shares during the last quarter. Trexquant Investment LP lifted its holdings in Skechers USA by 29.0% in the 2nd quarter. Trexquant Investment LP now owns 72,763 shares of the textile maker’s stock worth $2,291,000 after purchasing an additional 16,342 shares during the last quarter. Finally, Tyers Asset Management LLC lifted its holdings in Skechers USA by 71.3% in the 2nd quarter. Tyers Asset Management LLC now owns 58,884 shares of the textile maker’s stock worth $1,854,000 after purchasing an additional 24,500 shares during the last quarter. Hedge funds and other institutional investors own 76.30% 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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