Skechers USA Inc. (NYSE:SKX) is scheduled to be announcing its Q316 earnings results on Thursday, October 20th. Analysts expect the company to announce earnings of $0.47 per share and revenue of $954.38 million for the quarter. Investors that wish to register for the company’s conference call can do so using this link.
Skechers USA (NYSE:SKX) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.02. Skechers USA had a net margin of 7.79% and a return on equity of 20.20%. The firm earned $877.80 million during the quarter, compared to the consensus estimate of $892.06 million. During the same quarter last year, the firm posted $0.52 earnings per share. On average, analysts expect Skechers USA to post $1.80 EPS for the current fiscal year and $2.06 EPS for the next fiscal year.
Shares of Skechers USA Inc. (NYSE:SKX) opened at 22.12 on Tuesday. The company has a market capitalization of $3.49 billion, a P/E ratio of 12.78 and a beta of 0.15. The stock has a 50 day moving average price of $23.12 and a 200-day moving average price of $27.44. Skechers USA Inc. has a one year low of $20.90 and a one year high of $49.28.
In related news, General Counsel Phillip Paccione sold 1,389 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $24.12, for a total transaction of $33,502.68. Following the completion of the sale, the general counsel now directly owns 90,445 shares of the company’s stock, valued at approximately $2,181,533.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 21.73% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its stake in Skechers USA by 45.7% in the second quarter. US Bancorp DE now owns 5,211 shares of the company’s stock worth $155,000 after buying an additional 1,635 shares in the last quarter. Ancora Advisors LLC acquired a new stake in Skechers USA during the second quarter worth $208,000. Ontario Teachers Pension Plan Board acquired a new stake in Skechers USA during the second quarter worth $210,000. Cantab Capital Partners LLP boosted its stake in Skechers USA by 429.4% in the second quarter. Cantab Capital Partners LLP now owns 9,800 shares of the company’s stock worth $291,000 after buying an additional 7,949 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Skechers USA by 532.2% in the second quarter. Pacer Advisors Inc. now owns 11,633 shares of the company’s stock worth $346,000 after buying an additional 9,793 shares in the last quarter. 65.73% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on SKX. B. Riley reiterated a “buy” rating and set a $42.00 price target on shares of Skechers USA in a research note on Tuesday, July 19th. Monness Crespi & Hardt downgraded Skechers USA from a “buy” rating to a “neutral” rating in a research note on Friday, July 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded Skechers USA from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Susquehanna began coverage on Skechers USA in a research note on Friday, August 12th. They set a “neutral” rating and a $27.00 target price for the company. Finally, Standpoint Research began coverage on Skechers USA in a research note on Monday, October 3rd. They set a “buy” rating and a $30.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Skechers USA has an average rating of “Buy” and an average price target of $28.42.
Skechers USA Company Profile
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
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