Analysts Anticipate Skechers U.S.A., Inc. (NYSE:SKX) Will Announce Earnings of $0.55 Per Share

Brokerages expect Skechers U.S.A., Inc. (NYSE:SKXGet Rating) to announce $0.55 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Skechers U.S.A.’s earnings, with estimates ranging from $0.53 to $0.56. Skechers U.S.A. posted earnings of $0.88 per share in the same quarter last year, which would suggest a negative year over year growth rate of 37.5%. The firm is scheduled to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Skechers U.S.A. will report full year earnings of $2.84 per share for the current year, with EPS estimates ranging from $2.79 to $2.95. For the next fiscal year, analysts anticipate that the business will post earnings of $3.57 per share, with EPS estimates ranging from $3.20 to $3.85. Zacks’ EPS averages are a mean average based on a survey of research firms that that provide coverage for Skechers U.S.A..

Skechers U.S.A. (NYSE:SKXGet Rating) last issued its earnings results on Tuesday, April 26th. The textile maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. Skechers U.S.A. had a net margin of 11.45% and a return on equity of 12.94%. During the same quarter last year, the business earned $0.63 earnings per share.

A number of research firms have weighed in on SKX. StockNews.com started coverage on Skechers U.S.A. in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Skechers U.S.A. from $62.00 to $61.00 in a research report on Monday, April 25th. Berenberg Bank reaffirmed a “buy” rating and set a $71.00 target price on shares of Skechers U.S.A. in a research report on Tuesday. 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $56.78.

Shares of SKX stock opened at $38.22 on Wednesday. The stock has a 50 day moving average price of $39.02 and a 200 day moving average price of $42.69. Skechers U.S.A. has a 52-week low of $33.50 and a 52-week high of $55.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.41 and a current ratio of 2.44. The firm has a market capitalization of $5.96 billion, a P/E ratio of 7.85 and a beta of 1.33.

In other Skechers U.S.A. news, President Michael Greenberg purchased 28,000 shares of the stock in a transaction on Monday, March 7th. The shares were bought at an average price of $35.20 per share, for a total transaction of $985,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO David Weinberg sold 56,722 shares of the business’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 $2,456,062.60. The disclosure for this sale can be found here. Insiders have sold 153,501 shares of company stock valued at $6,646,593 over the last 90 days. 24.44% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SKX. Fifth Third Bancorp lifted its holdings in Skechers U.S.A. by 79.3% during the first quarter. Fifth Third Bancorp now owns 710 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 314 shares in the last quarter. Covestor Ltd acquired a new position in shares of Skechers U.S.A. during the 4th quarter worth about $31,000. Allworth Financial LP lifted its stake in Skechers U.S.A. by 198.4% in the 4th quarter. Allworth Financial LP now owns 761 shares of the textile maker’s stock valued at $33,000 after buying an additional 506 shares in the last quarter. Cornerstone Advisory LLC acquired a new stake in Skechers U.S.A. in the 4th quarter worth about $34,000. Finally, Prospera Financial Services Inc acquired a new position in shares of Skechers U.S.A. during the first quarter valued at approximately $34,000. 79.71% of the stock is owned by 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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