Skechers U.S.A., Inc. (NYSE:SKX) Expected to Post Quarterly Sales of $1.75 Billion

Equities analysts predict that Skechers U.S.A., Inc. (NYSE:SKXGet Rating) will announce $1.75 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Skechers U.S.A.’s earnings, with the lowest sales estimate coming in at $1.70 billion and the highest estimate coming in at $1.78 billion. Skechers U.S.A. reported sales of $1.66 billion in the same quarter last year, which indicates a positive year over year growth rate of 5.4%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Skechers U.S.A. will report full year sales of $7.31 billion for the current financial year, with estimates ranging from $7.27 billion to $7.37 billion. For the next year, analysts forecast that the firm will report sales of $8.08 billion, with estimates ranging from $7.86 billion to $8.31 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Skechers U.S.A..

Skechers U.S.A. (NYSE:SKXGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The textile maker reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm posted $0.63 EPS.

Several research firms recently commented on SKX. Berenberg Bank reissued a “buy” rating and set a $77.00 target price on shares of Skechers U.S.A. in a research note on Friday, April 22nd. StockNews.com assumed coverage on Skechers U.S.A. in a research report on Thursday, March 31st. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Skechers U.S.A. from $62.00 to $61.00 in a research report on Monday. Wedbush raised Skechers U.S.A. from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $47.00 to $54.00 in a research report on Tuesday, January 4th. Finally, OTR Global raised Skechers U.S.A. from a “mixed” rating to a “positive” rating in a research report on Tuesday, April 5th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Skechers U.S.A. currently has an average rating of “Buy” and an average target price of $57.44.

SKX opened at $39.73 on Friday. Skechers U.S.A. has a 12 month low of $33.50 and a 12 month high of $55.87. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 8.40 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. The business has a fifty day moving average price of $40.29 and a 200 day moving average price of $43.32.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 85,083 shares of the company’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 transaction of $3,684,093.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Phillip Paccione sold 11,696 shares of the company’s stock in a transaction that occurred 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. Over the last three months, insiders sold 153,501 shares of company stock valued at $6,646,593. Insiders own 25.92% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers increased its stake in Skechers U.S.A. by 3.6% in the 3rd quarter. Cetera Investment Advisers now owns 7,912 shares of the textile maker’s stock valued at $333,000 after purchasing an additional 274 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in Skechers U.S.A. by 0.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 34,700 shares of the textile maker’s stock valued at $1,506,000 after buying an additional 300 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Skechers U.S.A. by 0.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the textile maker’s stock valued at $1,544,000 after buying an additional 310 shares during the last quarter. Fifth Third Bancorp grew its holdings in Skechers U.S.A. by 79.3% during the 1st quarter. Fifth Third Bancorp now owns 710 shares of the textile maker’s stock valued at $29,000 after buying an additional 314 shares during the last quarter. Finally, Snider Financial Group grew its holdings in Skechers U.S.A. by 4.5% during the 4th quarter. Snider Financial Group now owns 8,710 shares of the textile maker’s stock valued at $387,000 after buying an additional 375 shares during the last quarter. 79.75% of the stock is owned by hedge funds and other institutional investors.

About Skechers U.S.A. (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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