Skechers U.S.A., Inc. (SKX) Releases Q4 Earnings Guidance

Skechers U.S.A., Inc. (NYSE:SKX) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.09-0.14 for the period, compared to the Thomson Reuters consensus estimate of $0.12. The company issued revenue guidance of $860-885 million, compared to the consensus revenue estimate of $875.58 million.

Shares of Skechers U.S.A., Inc. (SKX) traded down 4.22% during trading on Thursday, hitting $24.03. The stock had a trading volume of 6,399,106 shares. The stock’s 50-day moving average price is $25.38 and its 200-day moving average price is $26.41. Skechers U.S.A., Inc. has a one year low of $18.81 and a one year high of $30.00. The company has a market cap of $3.81 billion, a P/E ratio of 16.66 and a beta of 0.19.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, July 20th. The textile maker reported $0.38 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.06). The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $966.46 million. Skechers U.S.A. had a net margin of 5.92% and a return on equity of 12.79%. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 earnings per share. On average, equities research analysts forecast that Skechers U.S.A., Inc. will post $1.56 EPS for the current fiscal year.

Several equities research analysts recently commented on SKX shares. Zacks Investment Research downgraded Skechers U.S.A. from a hold rating to a sell rating in a report on Thursday, July 27th. Citigroup Inc. raised their target price on Skechers U.S.A. from $30.00 to $34.00 and gave the company a buy rating in a report on Friday, July 21st. Susquehanna Bancshares Inc reiterated a buy rating and set a $34.00 target price on shares of Skechers U.S.A. in a report on Tuesday, October 10th. Buckingham Research set a $34.00 target price on Skechers U.S.A. and gave the company a buy rating in a report on Saturday, July 22nd. Finally, BidaskClub upgraded Skechers U.S.A. from a hold rating to a buy rating in a report on Friday, June 30th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $31.02.

In other news, General Counsel Phillip Paccione sold 1,004 shares of Skechers U.S.A. stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $27.24, for a total value of $27,348.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 21.73% of the stock is owned by insiders.

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Skechers U.S.A. Company Profile

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.

Earnings History and Estimates for Skechers U.S.A. (NYSE:SKX)

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