Skechers USA Inc to Post Q3 2019 Earnings of $0.70 Per Share, B. Riley Forecasts (NYSE:SKX)

Skechers USA Inc (NYSE:SKX) – Equities researchers at B. Riley raised their Q3 2019 earnings per share (EPS) estimates for Skechers USA in a report released on Monday, October 21st. B. Riley analyst S. Anderson now forecasts that the textile maker will post earnings of $0.70 per share for the quarter, up from their prior forecast of $0.67. B. Riley also issued estimates for Skechers USA’s FY2019 earnings at $2.27 EPS, Q3 2020 earnings at $0.74 EPS and Q4 2020 earnings at $0.49 EPS.

Skechers USA (NYSE:SKX) last announced its quarterly earnings results on Tuesday, October 22nd. The textile maker reported $0.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.02). Skechers USA had a return on equity of 14.59% and a net margin of 6.72%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm posted $0.58 EPS. The company’s revenue was up 15.1% compared to the same quarter last year.

SKX has been the subject of a number of other research reports. Morgan Stanley boosted their price target on Skechers USA from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday. OTR Global raised Skechers USA from a “mixed” rating to a “positive” rating in a research note on Thursday, July 11th. Monness Crespi & Hardt reissued a “buy” rating and issued a $42.00 price objective (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. Susquehanna Bancshares boosted their price objective on Skechers USA from $37.00 to $42.00 and gave the stock a “positive” rating in a research note on Friday, July 19th. Finally, Zacks Investment Research boosted their price objective on Skechers USA to $42.50 in a research note on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Skechers USA currently has a consensus rating of “Hold” and an average target price of $41.72.

Shares of SKX stock opened at $36.72 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.65 and a current ratio of 2.51. Skechers USA has a 1 year low of $21.45 and a 1 year high of $40.50. The stock has a fifty day moving average of $36.03 and a two-hundred day moving average of $33.04. The firm has a market capitalization of $5.88 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.10 and a beta of 0.80.

Several institutional investors have recently made changes to their positions in the company. Alberta Investment Management Corp raised its position in shares of Skechers USA by 8.1% during the third quarter. Alberta Investment Management Corp now owns 154,400 shares of the textile maker’s stock worth $5,767,000 after purchasing an additional 11,600 shares during the period. Virginia Retirement Systems ET AL acquired a new stake in shares of Skechers USA during the third quarter worth $273,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Skechers USA by 15.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,533 shares of the textile maker’s stock worth $319,000 after purchasing an additional 1,121 shares during the period. Oakbrook Investments LLC raised its position in shares of Skechers USA by 6.3% during the third quarter. Oakbrook Investments LLC now owns 15,300 shares of the textile maker’s stock worth $571,000 after purchasing an additional 900 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Skechers USA by 191.4% during the third quarter. Envestnet Asset Management Inc. now owns 22,052 shares of the textile maker’s stock worth $824,000 after purchasing an additional 14,485 shares during the period. 76.34% of the stock is currently owned by institutional investors.

In other news, Director Jeffrey Greenberg sold 100,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $34.53, for a total value of $3,453,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard Siskind sold 15,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $36.25, for a total value of $543,750.00. Following the completion of the sale, the director now directly owns 172,499 shares in the company, valued at approximately $6,253,088.75. The disclosure for this sale can be found here. Insiders sold a total of 385,000 shares of company stock worth $13,936,050 in the last three months. Company insiders own 28.08% of the company’s stock.

About Skechers USA

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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