Skechers USA (NYSE:SKX) Issues Q3 2019 Earnings Guidance

Skechers USA (NYSE:SKX) updated its third quarter 2019 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.65-0.70 for the period, compared to the Thomson Reuters consensus estimate of $0.65. The company issued revenue guidance of $1.325-1.35 billion, compared to the consensus revenue estimate of $1.31 billion.Skechers USA also updated its Q3 guidance to $0.65-0.70 EPS.

A number of brokerages recently commented on SKX. OTR Global upgraded Skechers USA from a mixed rating to a positive rating in a research note on Thursday, July 11th. UBS Group raised their target price on Crowdstrike from $90.00 to $100.00 and gave the company an outperform rating in a research note on Friday. They noted that the move was a valuation call. B. Riley reaffirmed a buy rating on shares of Skechers USA in a report on Friday, April 26th. Wedbush raised Skechers USA from a neutral rating to an outperform rating and upped their target price for the company from $31.00 to $46.00 in a report on Friday. Finally, ValuEngine downgraded Vereit from a buy rating to a hold rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $37.33.

Shares of Skechers USA stock traded up $4.17 during trading on Friday, reaching $39.01. The stock had a trading volume of 15,672,938 shares, compared to its average volume of 1,827,268. Skechers USA has a 52 week low of $21.45 and a 52 week high of $40.50. The company has a market cap of $5.48 billion, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 2.45 and a beta of 0.72. The company has a quick ratio of 2.00, a current ratio of 2.91 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $31.57.

Skechers USA (NYSE:SKX) last announced its quarterly earnings results on Thursday, July 18th. The textile maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.16. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. Skechers USA had a return on equity of 14.80% and a net margin of 6.72%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 earnings per share. On average, analysts anticipate that Skechers USA will post 2.03 earnings per share for the current fiscal year.

In other news, COO David Weinberg sold 18,907 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $31.17, for a total value of $589,331.19. Following the completion of the transaction, the chief operating officer now directly owns 421,561 shares in the company, valued at approximately $13,140,056.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Rappaport sold 3,000 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $31.29, for a total value of $93,870.00. Following the completion of the transaction, the director now owns 23,000 shares of the company’s stock, valued at $719,670. The disclosure for this sale can be found here. Insiders have sold 92,690 shares of company stock worth $2,900,456 in the last three months. 28.08% of the stock is currently owned by company insiders.

Skechers USA Company Profile

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.

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Earnings History and Estimates for Skechers USA (NYSE:SKX)

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