Skechers U.S.A. (NYSE:SKX) Releases Q2 Earnings Guidance

Skechers U.S.A. (NYSE:SKXGet Rating) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.50 to $0.55 for the period, compared to the Thomson Reuters consensus estimate of $0.79. The company issued revenue guidance of $1.75 billion to $1.80 billion, compared to the consensus revenue estimate of $1.75 billion.Skechers U.S.A. also updated its FY 2022 guidance to $2.750-$2.950 EPS.

A number of research analysts have issued reports on the stock. Wedbush raised shares of Skechers U.S.A. from a neutral rating to an outperform rating and boosted their price objective for the company from $47.00 to $54.00 in a research report on Tuesday, January 4th. Zacks Investment Research raised shares of Skechers U.S.A. from a sell rating to a hold rating and set a $46.00 price objective on the stock in a research report on Monday, January 3rd. Berenberg Bank reissued a buy rating and set a $77.00 price objective on shares of Skechers U.S.A. in a research report on Friday. OTR Global upgraded shares of Skechers U.S.A. from a mixed rating to a positive rating in a report on Tuesday, April 5th. Finally, StockNews.com started coverage on shares of Skechers U.S.A. in a report on Thursday, March 31st. They set a hold rating on the stock. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Skechers U.S.A. currently has a consensus rating of Buy and a consensus target price of $57.44.

SKX stock traded down $1.83 during trading on Tuesday, hitting $37.41. 2,329,881 shares of the stock traded hands, compared to its average volume of 1,565,941. Skechers U.S.A. has a 1 year low of $33.50 and a 1 year high of $55.87. The firm’s 50 day moving average is $40.61 and its two-hundred day moving average is $43.37. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 7.91 and a beta of 1.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.33 and a quick ratio of 1.32.

Skechers U.S.A. (NYSE:SKXGet Rating) last announced its quarterly earnings data on Thursday, February 3rd. The textile maker reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.10. Skechers U.S.A. had a net margin of 11.80% and a return on equity of 13.08%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the firm posted $0.24 EPS. As a group, analysts anticipate that Skechers U.S.A. will post 2.82 EPS for the current fiscal year.

In other news, General Counsel Phillip Paccione sold 11,696 shares of the firm’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $43.30, for a total transaction of $506,436.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Michael Greenberg purchased 28,000 shares of the company’s stock in a transaction dated Monday, March 7th. The shares were bought at an average cost of $35.20 per share, for a total transaction of $985,600.00. The disclosure for this purchase can be found here. Insiders have sold a total of 153,501 shares of company stock worth $6,646,593 over the last three months. 25.92% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC bought a new position in shares of Skechers U.S.A. in the 4th quarter worth approximately $216,000. Parametric Portfolio Associates LLC lifted its stake in shares of Skechers U.S.A. by 1.8% in the 4th quarter. Parametric Portfolio Associates LLC now owns 402,521 shares of the textile maker’s stock worth $17,469,000 after purchasing an additional 7,253 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Skechers U.S.A. by 0.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the textile maker’s stock worth $1,544,000 after purchasing an additional 310 shares during the period. Metropolitan Life Insurance Co NY lifted its stake in shares of Skechers U.S.A. by 8.0% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 24,760 shares of the textile maker’s stock worth $1,075,000 after purchasing an additional 1,825 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Skechers U.S.A. by 3.3% in the 4th quarter. Legal & General Group Plc now owns 302,238 shares of the textile maker’s stock worth $13,117,000 after purchasing an additional 9,567 shares during the period. 79.75% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Company Profile (Get Rating)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands.

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

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