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.
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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