Skechers USA Inc (NYSE:SKX) Expected to Post Earnings of $0.75 Per Share

Equities analysts expect Skechers USA Inc (NYSE:SKX) to post earnings per share of $0.75 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Skechers USA’s earnings, with the highest EPS estimate coming in at $0.78 and the lowest estimate coming in at $0.72. Skechers USA posted earnings of $0.73 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.7%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Skechers USA will report full year earnings of $2.45 per share for the current fiscal year, with EPS estimates ranging from $2.28 to $2.52. For the next year, analysts expect that the company will report earnings of $2.83 per share, with EPS estimates ranging from $2.66 to $3.07. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Skechers USA.

Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, February 6th. The textile maker reported $0.39 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.39. Skechers USA had a return on equity of 14.82% and a net margin of 6.64%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the business earned $0.31 EPS. The company’s revenue for the quarter was up 23.1% on a year-over-year basis.

A number of research firms have weighed in on SKX. Morgan Stanley decreased their price target on Skechers USA from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. B. Riley cut their target price on Skechers USA from $44.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Monness Crespi & Hardt upped their target price on Skechers USA from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. ValuEngine raised Skechers USA from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Evercore ISI assumed coverage on Skechers USA in a research report on Friday, February 7th. They issued a “buy” rating and a $52.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $43.46.

Shares of NYSE:SKX traded up $2.10 during trading on Monday, reaching $26.70. 2,043,553 shares of the stock were exchanged, compared to its average volume of 2,334,426. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.41 and a current ratio of 2.28. Skechers USA has a 12-month low of $17.06 and a 12-month high of $44.50. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 0.63 and a beta of 0.88. The firm’s 50-day moving average price is $31.72 and its 200 day moving average price is $37.41.

Hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. acquired a new stake in shares of Skechers USA during the 4th quarter valued at approximately $4,859,000. NEXT Financial Group Inc raised its position in shares of Skechers USA by 75.0% during the 4th quarter. NEXT Financial Group Inc now owns 700 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 300 shares in the last quarter. Sowell Financial Services LLC raised its position in shares of Skechers USA by 8,333.3% during the 4th quarter. Sowell Financial Services LLC now owns 1,012 shares of the textile maker’s stock valued at $44,000 after acquiring an additional 1,000 shares in the last quarter. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Skechers USA during the 4th quarter valued at approximately $52,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Skechers USA during the 4th quarter valued at approximately $164,000. 75.79% of the stock is currently owned by institutional investors and hedge funds.

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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