Q2 2022 EPS Estimates for Skechers U.S.A., Inc. (NYSE:SKX) Decreased by B. Riley

Skechers U.S.A., Inc. (NYSE:SKXGet Rating) – Investment analysts at B. Riley dropped their Q2 2022 earnings estimates for shares of Skechers U.S.A. in a report released on Wednesday, April 27th. B. Riley analyst S. Anderson now expects that the textile maker will earn $0.54 per share for the quarter, down from their prior forecast of $0.81. B. Riley also issued estimates for Skechers U.S.A.’s Q3 2022 earnings at $0.85 EPS, Q4 2022 earnings at $0.64 EPS and FY2023 earnings at $3.73 EPS.

Several other equities research analysts have also recently commented on the company. Wedbush raised Skechers U.S.A. from a “neutral” rating to an “outperform” rating and increased their price target for the company from $47.00 to $54.00 in a report on Tuesday, January 4th. 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. StockNews.com assumed coverage on Skechers U.S.A. in a report on Thursday, March 31st. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft cut their price target on Skechers U.S.A. from $62.00 to $61.00 in a report on Monday. Finally, OTR Global raised Skechers U.S.A. from a “mixed” rating to a “positive” rating in a report on Tuesday, April 5th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Skechers U.S.A. has a consensus rating of “Buy” and an average target price of $57.44.

NYSE SKX opened at $39.73 on Friday. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 8.40 and a beta of 1.38. Skechers U.S.A. has a twelve month low of $33.50 and a twelve month high of $55.87. The company has a current ratio of 2.33, a quick ratio of 1.32 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $40.29 and a 200 day moving average of $43.32.

Skechers U.S.A. (NYSE:SKXGet Rating) last issued its earnings results on Tuesday, April 26th. The textile maker reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. Skechers U.S.A. had a return on equity of 13.08% and a net margin of 11.80%. During the same period in the prior year, the business earned $0.63 EPS.

Large investors have recently modified their holdings of the stock. Marshall Wace LLP increased its holdings in shares of Skechers U.S.A. by 121.9% in the fourth quarter. Marshall Wace LLP now owns 5,450,266 shares of the textile maker’s stock valued at $236,541,000 after purchasing an additional 2,994,421 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Skechers U.S.A. by 317.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,989,811 shares of the textile maker’s stock valued at $83,811,000 after purchasing an additional 1,513,394 shares during the period. Norges Bank acquired a new position in shares of Skechers U.S.A. in the fourth quarter valued at approximately $51,875,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Skechers U.S.A. by 11.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,845,963 shares of the textile maker’s stock valued at $297,115,000 after purchasing an additional 711,341 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Skechers U.S.A. in the fourth quarter valued at approximately $26,759,000. Hedge funds and other institutional investors own 79.75% of the company’s stock.

In related news, COO David Weinberg sold 56,722 shares of Skechers U.S.A. stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $43.30, for a total transaction of $2,456,062.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert Greenberg sold 85,083 shares of the firm’s stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $43.30, for a total value of $3,684,093.90. The disclosure for this sale can be found here. Insiders sold 153,501 shares of company stock valued at $6,646,593 over the last quarter. 25.92% of the stock is currently owned by company insiders.

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.

See Also

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

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