Skechers U.S.A. (NYSE:SKX – Get Free Report) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.10-$1.15 for the period, compared to the consensus earnings per share estimate of $1.11. The company issued revenue guidance of $2.30-$2.35 billion, compared to the consensus revenue estimate of $2.22 billion. Skechers U.S.A. also updated its FY 2024 guidance to 4.080-4.180 EPS.
Skechers U.S.A. Trading Up 1.6 %
Shares of NYSE SKX traded up $1.02 during trading hours on Friday, reaching $64.73. The stock had a trading volume of 4,597,068 shares, compared to its average volume of 1,777,294. Skechers U.S.A. has a 52-week low of $45.58 and a 52-week high of $75.09. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 0.91 and a beta of 1.25. The business’s fifty day moving average price is $69.15 and its two-hundred day moving average price is $64.13. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.03). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. Skechers U.S.A.’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. Analysts expect that Skechers U.S.A. will post 4.11 EPS for the current fiscal year.
Analysts Set New Price Targets
View Our Latest Analysis on SKX
Insider Activity
In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total transaction of $29,377.35. Following the transaction, the general counsel now owns 35,000 shares in the company, valued at approximately $2,430,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 24.75% of the company’s stock.
Skechers U.S.A. Company Profile
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.
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