Skechers U.S.A., Inc. (NYSE:SKX) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.50-0.55 for the period, compared to the Thomson Reuters consensus estimate of $0.66. The company issued revenue guidance of 1.05-1.075, compared to the consensus revenue estimate of $1.05 billion.
Skechers U.S.A., Inc. (NYSE:SKX) traded up 3.28% during midday trading on Thursday, hitting $23.28. The company had a trading volume of 4,509,204 shares. Skechers U.S.A., Inc. has a 52 week low of $18.81 and a 52 week high of $34.27. The stock has a 50 day moving average price of $24.73 and a 200-day moving average price of $23.65. The stock has a market capitalization of $3.68 billion, a PE ratio of 13.53 and a beta of 0.30.
Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, February 9th. The company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.06. The firm had revenue of $764.30 million for the quarter, compared to the consensus estimate of $725.08 million. Skechers U.S.A. had a net margin of 7.56% and a return on equity of 17.44%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.20 earnings per share. On average, equities analysts predict that Skechers U.S.A., Inc. will post $1.62 EPS for the current year.
A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered Skechers U.S.A. from a hold rating to a sell rating in a research report on Thursday, January 26th. Wedbush lifted their target price on Skechers U.S.A. from $23.00 to $25.00 and gave the company a neutral rating in a research report on Wednesday, January 25th. Monness Crespi & Hardt raised Skechers U.S.A. from a neutral rating to a buy rating and set a $30.00 target price for the company in a research report on Saturday, December 31st. Vetr raised Skechers U.S.A. from a buy rating to a strong-buy rating and set a $28.43 target price for the company in a research report on Monday, December 19th. Finally, Wells Fargo & Company assumed coverage on Skechers U.S.A. in a research report on Tuesday, December 6th. They set an outperform rating and a $31.00 target price for the company. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $28.01.
In other Skechers U.S.A. news, CEO Robert Greenberg bought 500,000 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, November 29th. The shares were bought at an average cost of $21.96 per share, with a total value of $10,980,000.00. Following the transaction, the chief executive officer now directly owns 277,693 shares of the company’s stock, valued at approximately $6,098,138.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Walsh sold 1,500 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $22.64, for a total value of $33,960.00. Following the transaction, the director now directly owns 11,500 shares in the company, valued at $260,360. The disclosure for this sale can be found here. Insiders have sold a total of 3,500 shares of company stock worth $84,540 over the last ninety days. 21.73% of the stock is currently owned by corporate insiders.
Skechers U.S.A. 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.