$1.24 Billion in Sales Expected for Skechers USA Inc (NYSE:SKX) This Quarter

Equities analysts expect Skechers USA Inc (NYSE:SKX) to announce $1.24 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Skechers USA’s earnings. The lowest sales estimate is $1.24 billion and the highest is $1.25 billion. Skechers USA reported sales of $1.08 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 14.8%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Skechers USA will report full year sales of $5.13 billion for the current fiscal year, with estimates ranging from $5.09 billion to $5.15 billion. For the next year, analysts forecast that the company will report sales of $5.60 billion, with estimates ranging from $5.51 billion to $5.68 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Skechers USA.

Skechers USA (NYSE:SKX) last announced its quarterly earnings results on Tuesday, October 22nd. The textile maker reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). Skechers USA had a net margin of 6.73% and a return on equity of 14.85%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company earned $0.58 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research increased their target price on shares of Skechers USA to $42.50 in a research report on Tuesday, October 15th. ValuEngine downgraded shares of Skechers USA from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Wedbush set a $46.00 price target on shares of Skechers USA and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, Morgan Stanley upped their price objective on shares of Skechers USA from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Skechers USA currently has a consensus rating of “Hold” and an average price target of $41.72.

In other Skechers USA news, Director Richard Siskind sold 15,000 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $36.25, for a total transaction of $543,750.00. Following the transaction, the director now owns 172,499 shares of the company’s stock, valued at approximately $6,253,088.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey Greenberg sold 40,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $39.77, for a total value of $1,590,800.00. The disclosure for this sale can be found here. Insiders sold 471,152 shares of company stock valued at $17,333,882 over the last ninety days. 28.08% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Skechers USA by 0.9% during the 2nd quarter. BlackRock Inc. now owns 11,776,053 shares of the textile maker’s stock valued at $370,827,000 after purchasing an additional 104,462 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Skechers USA by 33.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,986,576 shares of the textile maker’s stock worth $223,599,000 after buying an additional 1,500,268 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Skechers USA by 120.9% in the second quarter. AQR Capital Management LLC now owns 3,891,267 shares of the textile maker’s stock valued at $121,213,000 after buying an additional 2,129,743 shares during the period. Tremblant Capital Group lifted its holdings in Skechers USA by 20.3% in the second quarter. Tremblant Capital Group now owns 2,353,232 shares of the textile maker’s stock valued at $74,103,000 after buying an additional 397,260 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Skechers USA by 2.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,195,293 shares of the textile maker’s stock valued at $37,640,000 after acquiring an additional 26,494 shares during the last quarter. 75.95% of the stock is owned by institutional investors.

Shares of NYSE SKX traded up $0.18 during midday trading on Monday, reaching $40.44. 1,583,667 shares of the company traded hands, compared to its average volume of 2,127,430. Skechers USA has a 12 month low of $21.45 and a 12 month high of $41.31. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.57 and a current ratio of 2.37. The stock’s 50-day simple moving average is $39.00 and its 200-day simple moving average is $34.61. The firm has a market cap of $6.30 billion, a PE ratio of 21.06, a PEG ratio of 1.19 and a beta of 0.79.

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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