Equities analysts forecast that Skechers USA Inc (NYSE:SKX) will announce $959.72 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Skechers USA’s earnings. The highest sales estimate is $966.4 million and the lowest is $953.55 million. Skechers USA posted sales of $877.81 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.3%. The business 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 $959.72 million for the current fiscal year, with estimates ranging from $3.91 billion to $4.03 billion. For the next financial year, analysts anticipate that the company will post sales of $4.32 billion per share, with estimates ranging from $4.14 billion to $4.45 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Skechers USA.
Skechers USA (NYSE:SKX) last announced its quarterly earnings results on Thursday, April 20th. The textile maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.05. Skechers USA had a net margin of 6.83% and a return on equity of 15.10%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business posted $0.63 earnings per share. Skechers USA’s quarterly revenue was up 9.6% on a year-over-year basis.
A number of brokerages recently issued reports on SKX. B. Riley reissued a “buy” rating and set a $32.00 price objective on shares of Skechers USA in a research report on Wednesday, April 26th. Wedbush reissued a “neutral” rating and set a $25.00 price objective on shares of Skechers USA in a research report on Tuesday, February 14th. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $25.00 price objective on shares of Skechers USA in a research report on Monday, April 24th. Zacks Investment Research raised Skechers USA from a “sell” rating to a “hold” rating in a research report on Tuesday, February 14th. Finally, Vetr downgraded Skechers USA from a “strong-buy” rating to a “hold” rating and set a $27.88 price objective for the company. in a research report on Monday, February 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $28.36.
Skechers USA (NYSE:SKX) traded down 3.315% on Wednesday, reaching $23.359. 1,957,512 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $25.54 and a 200-day moving average price of $25.01. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 15.149 and a beta of 0.30. Skechers USA has a 52 week low of $18.81 and a 52 week high of $32.71. Skechers USA also was the target of unusually large options trading on Monday. Stock investors purchased 23,797 call options on the company. This is an increase of 538% compared to the typical volume of 3,730 call options.
In other news, COO David Weinberg sold 24,188 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $25.92, for a total transaction of $626,952.96. Following the sale, the chief operating officer now owns 244,188 shares of the company’s stock, valued at approximately $6,329,352.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark A. Nason sold 18,376 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $27.21, for a total value of $500,010.96. Following the sale, the insider now directly owns 78,752 shares in the company, valued at approximately $2,142,841.92. The disclosure for this sale can be found here. Insiders sold a total of 87,110 shares of company stock valued at $2,267,802 in the last quarter. Company insiders own 21.73% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parametrica Management Ltd purchased a new position in Skechers USA during the first quarter valued at approximately $236,000. Oxford Asset Management purchased a new position in Skechers USA during the fourth quarter valued at approximately $3,495,000. Cortina Asset Management LLC purchased a new position in Skechers USA during the fourth quarter valued at approximately $20,168,000. Russell Investments Group Ltd. purchased a new position in Skechers USA during the fourth quarter valued at approximately $1,833,000. Finally, Two Sigma Investments LP purchased a new position in Skechers USA during the fourth quarter valued at approximately $14,300,000. 61.40% of the stock is currently owned by institutional investors.
About Skechers USA
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Skechers USA Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA Inc and related companies with MarketBeat.com's FREE daily email newsletter.