Skechers U.S.A. (SKX) to Release Earnings on Tuesday

Skechers U.S.A. (NYSE:SKXGet Rating) is set to post its quarterly earnings results after the market closes on Tuesday, April 26th. Analysts expect Skechers U.S.A. to post earnings of $0.72 per share for the quarter. Skechers U.S.A. has set its Q1 guidance at $0.70-0.75 EPS and its FY22 guidance at $2.70-2.90 EPS.

Skechers U.S.A. (NYSE:SKXGet Rating) last issued its quarterly earnings results on Thursday, February 3rd. The textile maker reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.10. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.54 billion. Skechers U.S.A. had a return on equity of 13.08% and a net margin of 11.80%. During the same quarter in the prior year, the business earned $0.24 EPS. On average, analysts expect Skechers U.S.A. to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Shares of SKX traded up $0.88 during midday trading on Tuesday, hitting $40.64. The company had a trading volume of 6,045 shares, compared to its average volume of 1,559,210. Skechers U.S.A. has a 1 year low of $33.50 and a 1 year high of $55.87. The firm has a market capitalization of $6.34 billion, a P/E ratio of 8.54 and a beta of 1.38. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.32 and a current ratio of 2.33. The company’s 50-day simple moving average is $41.54 and its 200-day simple moving average is $43.45.

In other news, President Michael Greenberg bought 75,000 shares of the stock in a transaction on Friday, March 4th. The shares were bought at an average price of $38.23 per share, with a total value of $2,867,250.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Phillip Paccione sold 11,696 shares of the company’s stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $43.30, for a total value of $506,436.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 153,501 shares of company stock valued at $6,646,593. 25.92% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC lifted its position in shares of Skechers U.S.A. by 1.8% in the fourth quarter. Parametric Portfolio Associates LLC now owns 402,521 shares of the textile maker’s stock valued at $17,469,000 after acquiring an additional 7,253 shares in the last quarter. Morgan Stanley lifted its position in shares of Skechers U.S.A. by 134.7% in the second quarter. Morgan Stanley now owns 310,494 shares of the textile maker’s stock valued at $15,472,000 after acquiring an additional 178,175 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Skechers U.S.A. by 3.3% in the fourth quarter. Legal & General Group Plc now owns 302,238 shares of the textile maker’s stock valued at $13,117,000 after acquiring an additional 9,567 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Skechers U.S.A. by 0.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the textile maker’s stock valued at $1,544,000 after acquiring an additional 310 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY lifted its position in shares of Skechers U.S.A. by 8.0% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 24,760 shares of the textile maker’s stock valued at $1,075,000 after acquiring an additional 1,825 shares in the last quarter. Institutional investors and hedge funds own 79.75% of the company’s stock.

A number of research analysts recently issued reports on the stock. Wedbush upgraded shares of Skechers U.S.A. from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $47.00 to $54.00 in a research note on Tuesday, January 4th. OTR Global raised shares of Skechers U.S.A. from a “mixed” rating to a “positive” rating in a research report on Tuesday, April 5th. StockNews.com started coverage on Skechers U.S.A. in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research raised Skechers U.S.A. from a “sell” rating to a “hold” rating and set a $46.00 price target for the company in a report on Monday, January 3rd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $54.89.

About Skechers U.S.A. (Get Rating)

Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the following segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. The Domestic Wholesale segment distributes footwear through the local wholesale distribution channels including department stores, specialty stores, athletic specialty shoe stores and independent retailers, as well as catalog and internet retailers.

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

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