Skechers USA Inc (NYSE:SKX) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.42-0.47 for the period, compared to the Thomson Reuters consensus estimate of $0.48. The company issued revenue guidance of $950-975 million, compared to the consensus revenue estimate of $962.17 million.
Skechers USA Inc (NYSE:SKX) opened at 23.45 on Friday. The company has a 50-day moving average of $25.06 and a 200 day moving average of $25.00. The company has a market cap of $3.71 billion, a P/E ratio of 15.21 and a beta of 0.30. Skechers USA Inc has a one year low of $18.81 and a one year high of $32.71.
Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, April 20th. The textile maker reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Skechers USA had a net margin of 6.83% and a return on equity of 15.10%. Skechers USA’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share. Equities research analysts predict that Skechers USA Inc will post $1.77 EPS for the current year.
Several research analysts recently weighed in on the stock. Vetr upgraded shares of Skechers USA from a hold rating to a buy rating and set a $26.28 price objective on the stock in a research report on Thursday, April 27th. Susquehanna Bancshares Inc restated a positive rating and issued a $30.00 price objective on shares of Skechers USA in a research report on Thursday, February 16th. Cowen and Company restated a buy rating and issued a $35.00 price objective on shares of Skechers USA in a research report on Friday, April 21st. Zacks Investment Research upgraded shares of Skechers USA from a sell rating to a hold rating in a research report on Tuesday, February 14th. Finally, Standpoint Research cut shares of Skechers USA from a buy rating to a hold rating in a research report on Thursday, March 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and an average target price of $28.36.
In other news, Director Richard Rappaport sold 1,500 shares of the stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $27.90, for a total transaction of $41,850.00. Following the completion of the sale, the director now owns 21,500 shares of the company’s stock, valued at $599,850. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Phillip Paccione sold 18,794 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $25.92, for a total value of $487,140.48. Following the sale, the general counsel now directly owns 78,794 shares of the company’s stock, valued at approximately $2,042,340.48. The disclosure for this sale can be found here. Insiders have sold 87,110 shares of company stock worth $2,267,802 over the last quarter. Company insiders own 21.73% of the company’s stock.
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Skechers USA Company Profile
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
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