Skechers U.S.A. (NYSE:SKX) Issues Earnings Results

Skechers U.S.A. (NYSE:SKX) announced its quarterly earnings data on Thursday. The textile maker reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.23, Briefing.com reports. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the firm earned $1.02 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year.

Skechers U.S.A. Price Performance

SKX traded up $7.29 on Friday, hitting $66.11. 5,362,429 shares of the company’s stock traded hands, compared to its average volume of 1,691,023. The firm has a market cap of $10.13 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.07 and a beta of 1.32. The company has a current ratio of 2.38, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06. The company’s 50 day simple moving average is $59.61 and its 200-day simple moving average is $57.92. Skechers U.S.A. has a one year low of $45.58 and a one year high of $69.07.

Insider Transactions at Skechers U.S.A.

In other news, COO David Weinberg sold 67,390 shares of Skechers U.S.A. stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $3,899,859.30. Following the completion of the transaction, the chief operating officer now owns 141,405 shares in the company, valued at approximately $8,183,107.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Robert Greenberg sold 30,339 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the completion of the transaction, the chief executive officer now owns 132,783 shares in the company, valued at approximately $8,114,369.13. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO David Weinberg sold 67,390 shares of Skechers U.S.A. stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $3,899,859.30. Following the sale, the chief operating officer now directly owns 141,405 shares of the company’s stock, valued at $8,183,107.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,875 shares of company stock worth $15,021,192. 24.75% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SKX shares. TD Cowen upped their target price on Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Monness Crespi & Hardt upped their target price on Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Raymond James decreased their price objective on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Wedbush increased their price objective on Skechers U.S.A. from $68.00 to $76.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Barclays assumed coverage on Skechers U.S.A. in a research note on Monday, April 1st. They issued an “overweight” rating and a $71.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.83.

Skechers U.S.A. Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.