Skechers USA Inc (NYSE:SKX) Expected to Post Quarterly Sales of $1.24 Billion

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Equities research analysts predict that Skechers USA Inc (NYSE:SKX) will announce sales of $1.24 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Skechers USA’s earnings, with estimates ranging from $1.24 billion to $1.25 billion. Skechers USA reported sales of $1.08 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.8%. The company is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Skechers USA will report full-year sales of $5.13 billion for the current fiscal year, with estimates ranging from $5.09 billion to $5.15 billion. For the next financial year, analysts expect that the company will post sales of $5.60 billion, with estimates ranging from $5.51 billion to $5.68 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Skechers USA.

Skechers USA (NYSE:SKX) last posted its earnings results on Tuesday, October 22nd. The textile maker reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.02). Skechers USA had a net margin of 6.73% and a return on equity of 14.85%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. The business’s revenue was up 15.1% compared to the same quarter last year.

Several equities research analysts have recently weighed in on the company. ValuEngine downgraded Skechers USA from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley raised their target price on Skechers USA from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Zacks Investment Research boosted their price target on Skechers USA to $42.50 in a research report on Tuesday, October 15th. Finally, Wedbush set a $46.00 price objective on shares of Skechers USA and gave the company a “buy” rating in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $41.72.

In other Skechers USA news, Director Richard Siskind sold 15,000 shares of Skechers USA stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $36.25, for a total transaction of $543,750.00. Following the sale, the director now directly owns 172,499 shares in the company, valued at approximately $6,253,088.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Greenberg sold 40,000 shares of Skechers USA stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $39.77, for a total value of $1,590,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 471,152 shares of company stock worth $17,333,882. Insiders own 28.08% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SKX. NuWave Investment Management LLC lifted its stake in Skechers USA by 271.4% in the 3rd quarter. NuWave Investment Management LLC now owns 713 shares of the textile maker’s stock valued at $26,000 after purchasing an additional 521 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in Skechers USA by 1,270.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,028 shares of the textile maker’s stock worth $39,000 after buying an additional 953 shares during the period. Cerebellum GP LLC acquired a new position in Skechers USA in the 3rd quarter worth approximately $63,000. Macquarie Group Ltd. acquired a new position in Skechers USA in the 2nd quarter worth approximately $198,000. Finally, CIBC Asset Management Inc purchased a new position in Skechers USA during the 3rd quarter worth approximately $212,000. Institutional investors own 75.95% of the company’s stock.

NYSE:SKX traded down $0.70 during mid-day trading on Monday, hitting $39.74. The company had a trading volume of 1,563,783 shares, compared to its average volume of 2,125,068. The business has a fifty day simple moving average of $39.12 and a 200-day simple moving average of $34.73. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 1.19 and a beta of 0.79. Skechers USA has a 1 year low of $21.45 and a 1 year high of $41.31. The company has a current ratio of 2.37, a quick ratio of 1.57 and a debt-to-equity ratio of 0.43.

About Skechers USA

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.

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