Skechers USA (NYSE:SKX) released its quarterly earnings data on Thursday. The textile maker reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08, Bloomberg Earnings reports. The business had revenue of $970.59 million for the quarter, compared to analyst estimates of $881.39 million. Skechers USA had a return on equity of 14.73% and a net margin of 4.30%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 EPS. Skechers USA updated its Q1 guidance to $0.70-0.75 EPS.
Shares of Skechers USA (SKX) opened at $41.06 on Friday. The company has a current ratio of 3.46, a quick ratio of 2.30 and a debt-to-equity ratio of 0.04. Skechers USA has a twelve month low of $22.53 and a twelve month high of $42.73. The stock has a market capitalization of $6,050.38, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 1.24 and a beta of 0.20.
In other Skechers USA news, Director Morton D. Erlich sold 4,000 shares of Skechers USA stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $33.66, for a total transaction of $134,640.00. Following the sale, the director now directly owns 12,000 shares in the company, valued at approximately $403,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Greenberg sold 500,000 shares of Skechers USA stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $37.66, for a total value of $18,830,000.00. Following the sale, the chief executive officer now owns 267,713 shares in the company, valued at $10,082,071.58. The disclosure for this sale can be found here. Insiders have sold a total of 580,750 shares of company stock worth $21,665,988 over the last 90 days. 21.73% of the stock is owned by company insiders.
Skechers USA announced that its board has initiated a stock repurchase program on Thursday, February 8th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the textile maker to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
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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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