Skechers U.S.A., Inc. (NYSE:SKX) Expected to Announce Quarterly Sales of $1.79 Billion

Equities analysts expect Skechers U.S.A., Inc. (NYSE:SKXGet Rating) to post sales of $1.79 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Skechers U.S.A.’s earnings, with the lowest sales estimate coming in at $1.77 billion and the highest estimate coming in at $1.82 billion. Skechers U.S.A. reported sales of $1.66 billion during the same quarter last year, which would suggest a positive year over year growth rate of 7.8%. The firm is scheduled to report its next earnings report 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 year, with estimates ranging from $7.27 billion to $7.37 billion. For the next year, analysts expect that the company will post sales of $8.08 billion, with estimates ranging from $7.86 billion to $8.31 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Skechers U.S.A..

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

SKX has been the subject of a number of recent research reports. Berenberg Bank reaffirmed a “buy” rating and issued a $71.00 target price on shares of Skechers U.S.A. in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lowered their target price on Skechers U.S.A. from $62.00 to $61.00 in a report on Monday, April 25th. StockNews.com initiated coverage on Skechers U.S.A. in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. OTR Global raised Skechers U.S.A. from a “mixed” rating to a “positive” rating in a research report on Tuesday, April 5th. Finally, TheStreet lowered Skechers U.S.A. from a “b” rating to a “c+” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $56.78.

NYSE SKX opened at $35.90 on Friday. The business has a fifty day moving average price of $38.97 and a 200 day moving average price of $42.61. Skechers U.S.A. has a one year low of $33.50 and a one year 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 company has a market cap of $5.60 billion, a P/E ratio of 7.37 and a beta of 1.33.

In other Skechers U.S.A. news, President Michael Greenberg purchased 28,000 shares of the firm’s stock in a transaction that occurred on Monday, March 7th. The stock was purchased at an average price of $35.20 per share, for a total transaction of $985,600.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Phillip Paccione sold 11,696 shares of the stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $43.30, for a total transaction of $506,436.80. The disclosure for this sale can be found here. Insiders have sold a total of 153,501 shares of company stock worth $6,646,593 in the last three months. Corporate insiders own 24.44% of the company’s stock.

Large investors have recently modified their holdings of the stock. Fifth Third Bancorp boosted its stake 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 worth $29,000 after purchasing an additional 314 shares during the period. Covestor Ltd purchased a new position in Skechers U.S.A. during the 4th quarter worth $31,000. Allworth Financial LP raised its position in Skechers U.S.A. by 198.4% during the 4th quarter. Allworth Financial LP now owns 761 shares of the textile maker’s stock worth $33,000 after buying an additional 506 shares during the last quarter. Cornerstone Advisory LLC purchased a new position in Skechers U.S.A. during the 4th quarter worth $34,000. Finally, Prospera Financial Services Inc purchased a new position in Skechers U.S.A. during the 1st quarter worth $34,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

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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