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

Skechers U.S.A. (NYSE:SKX) released its quarterly earnings data on Thursday. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.23, Briefing.com reports. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Skechers U.S.A. had a return on equity of 13.76% and a net margin of 7.17%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.02 EPS.

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $65.41 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 1.46. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 1.19 and a beta of 1.32. The firm’s fifty day moving average price is $59.73 and its 200 day moving average price is $58.10. Skechers U.S.A. has a 1-year low of $45.58 and a 1-year high of $69.07.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SKX shares. Evercore ISI lowered their target price on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Monness Crespi & Hardt lifted their target price on Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Raymond James reduced their target price 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. Barclays assumed coverage on Skechers U.S.A. in a research note on Monday, April 1st. They set an “overweight” rating and a $71.00 price target on the stock. Finally, Wedbush lifted their price target on Skechers U.S.A. from $68.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.83.

Insiders Place Their Bets

In other news, CEO Robert Greenberg sold 99,139 shares of Skechers U.S.A. 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 sale, the chief executive officer now owns 196,050 shares of the company’s stock, valued at $11,345,413.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Skechers U.S.A. news, EVP Mark A. Nason sold 6,067 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $370,754.37. Following the completion of the transaction, the executive vice president now owns 14,023 shares in the company, valued at $856,945.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Greenberg sold 99,139 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 196,050 shares in the company, valued at $11,345,413.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,875 shares of company stock worth $15,021,192. 24.75% of the stock is owned by insiders.

About Skechers U.S.A.

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.