Wall Street analysts predict that Skechers USA Inc (NYSE:SKX) will announce $1.22 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Skechers USA’s earnings, with the lowest sales estimate coming in at $1.21 billion and the highest estimate coming in at $1.22 billion. Skechers USA reported sales of $1.09 billion during the same quarter last year, which would suggest a positive year over year growth rate of 11.9%. The company is expected to announce its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Skechers USA will report full-year sales of $4.68 billion for the current financial year, with estimates ranging from $4.64 billion to $4.72 billion. For the next financial year, analysts anticipate that the firm will post sales of $5.17 billion per share, with estimates ranging from $5.05 billion to $5.28 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Skechers USA.
Skechers USA (NYSE:SKX) last released its quarterly earnings results on Thursday, July 19th. The textile maker reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.12). The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Skechers USA had a net margin of 4.24% and a return on equity of 14.17%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share.
SKX has been the subject of several research analyst reports. B. Riley set a $50.00 price objective on shares of Skechers USA and gave the company a “buy” rating in a research report on Tuesday, July 17th. Citigroup initiated coverage on shares of Skechers USA in a research report on Wednesday, April 18th. They issued a “buy” rating and a $50.00 price objective for the company. Wedbush decreased their price objective on shares of Skechers USA from $33.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, July 20th. Monness Crespi & Hardt decreased their price objective on shares of Skechers USA from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, April 20th. Finally, Morgan Stanley initiated coverage on shares of Skechers USA in a research report on Wednesday, August 1st. They issued an “equal weight” rating and a $28.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $37.45.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its position in Skechers USA by 1.9% during the 2nd quarter. BlackRock Inc. now owns 13,107,423 shares of the textile maker’s stock worth $393,355,000 after buying an additional 244,350 shares during the last quarter. Amerigo Asset Management raised its position in Skechers USA by 33.8% during the 1st quarter. Amerigo Asset Management now owns 4,180,411 shares of the textile maker’s stock worth $162,576,000 after buying an additional 1,056,177 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Skechers USA by 130.3% during the 1st quarter. Artisan Partners Limited Partnership now owns 3,918,203 shares of the textile maker’s stock worth $152,379,000 after buying an additional 2,216,530 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Skechers USA by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,047,704 shares of the textile maker’s stock worth $61,451,000 after buying an additional 6,338 shares during the last quarter. Finally, UBS Group AG raised its position in Skechers USA by 44.3% during the 1st quarter. UBS Group AG now owns 1,217,713 shares of the textile maker’s stock worth $47,357,000 after buying an additional 373,785 shares during the last quarter. 73.23% of the stock is owned by institutional investors.
Shares of Skechers USA stock traded down $0.15 during midday trading on Tuesday, hitting $29.29. The company had a trading volume of 1,544,650 shares, compared to its average volume of 6,536,633. The firm has a market capitalization of $4.69 billion, a P/E ratio of 16.46, a PEG ratio of 1.70 and a beta of 0.22. The company has a quick ratio of 2.14, a current ratio of 3.28 and a debt-to-equity ratio of 0.03. Skechers USA has a 12-month low of $23.80 and a 12-month high of $43.08.
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.
Read More: Analyst Ratings
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Skechers USA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA and related companies with MarketBeat.com's FREE daily email newsletter.