Skechers U.S.A. (SKX) Set to Announce Earnings on Thursday

Skechers U.S.A. (NYSE:SKX) is set to issue its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.10 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.04. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.03 billion. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 EPS. On average, analysts expect Skechers U.S.A. to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock opened at $58.02 on Tuesday. The company has a market capitalization of $8.89 billion, a PE ratio of 16.62, a PEG ratio of 1.02 and a beta of 1.32. Skechers U.S.A. has a 12 month low of $45.58 and a 12 month high of $65.17. 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 stock’s fifty day simple moving average is $59.64 and its 200 day simple moving average is $57.82.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 99,139 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $5,737,173.93. Following the transaction, the chief executive officer now owns 196,050 shares in the company, valued at $11,345,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Michael Greenberg sold 25,282 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,544,983.02. Following the transaction, the president now owns 123,441 shares in the company, valued at $7,543,479.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert Greenberg sold 99,139 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $5,737,173.93. Following the completion of the transaction, the chief executive officer now owns 196,050 shares in the company, valued at approximately $11,345,413.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,875 shares of company stock valued at $15,021,192. Insiders own 24.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SKX shares. Stifel Nicolaus decreased their price objective on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Barclays began coverage on shares of Skechers U.S.A. in a research report on Monday, April 1st. They set an “overweight” rating and a $71.00 price objective for the company. Monness Crespi & Hardt lifted their price target on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Bank of America initiated coverage on Skechers U.S.A. in a research note on Friday, March 8th. They issued a “neutral” rating and a $67.00 price target for the company. Finally, Evercore ISI cut their target price on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.17.

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.