Skechers USA (NYSE:SKX) issued its quarterly earnings data on Wednesday. The textile maker reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12), Bloomberg Earnings reports. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Skechers USA had a return on equity of 15.30% and a net margin of 4.67%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $0.38 EPS.
NYSE SKX traded up $0.60 on Thursday, hitting $33.25. The stock had a trading volume of 9,025,900 shares, compared to its average volume of 2,845,925. The company has a current ratio of 3.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.03. Skechers USA has a 52-week low of $23.90 and a 52-week high of $43.08. The firm has a market capitalization of $5.09 billion, a P/E ratio of 14.38, a P/E/G ratio of 0.86 and a beta of 0.37.
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In other Skechers USA news, COO David Weinberg sold 25,210 shares of Skechers USA stock in a transaction on Wednesday, May 2nd. The shares were sold at an average price of $28.12, for a total value of $708,905.20. Following the transaction, the chief operating officer now directly owns 428,214 shares of the company’s stock, valued at $12,041,377.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 27.88% of the stock is currently owned by insiders.
A number of equities analysts recently commented on SKX shares. ValuEngine raised shares of Skechers USA from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd. B. Riley set a $50.00 price objective on shares of Skechers USA and gave the stock a “buy” rating in a research note on Tuesday, April 17th. Buckingham Research reissued a “buy” rating and issued a $48.00 price objective on shares of Skechers USA in a research note on Wednesday, April 18th. Citigroup started coverage on shares of Skechers USA in a research note on Wednesday, April 18th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, Wedbush downgraded shares of Skechers USA from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $46.00 to $34.00 in a research note on Friday, April 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Skechers USA presently has an average rating of “Hold” and an average target price of $42.29.
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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