Latest Stocks: $959.72 Million in Sales Expected for Skechers USA Inc (SKX) This Quarter

Latest Stocks: $959.72 Million in Sales Expected for Skechers USA Inc (SKX) This Quarter

Equities analysts forecast that Skechers USA Inc (NYSE:SKX) will announce $959.72 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Skechers USA’s earnings. The highest sales estimate is $966.4 million and the lowest is $953.55 million. Skechers USA posted sales of $877.81 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.3%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Skechers USA will report full-year sales of $959.72 million for the current fiscal year, with estimates ranging from $3.91 billion to $4.03 billion. For the next financial year, analysts anticipate that the company will post sales of $4.32 billion per share, with estimates ranging from $4.14 billion to $4.45 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Skechers USA.

Skechers USA (NYSE:SKX) last announced its quarterly earnings results on Thursday, April 20th. The textile maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.05. Skechers USA had a net margin of 6.83% and a return on equity of 15.10%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business posted $0.63 earnings per share. Skechers USA’s quarterly revenue was up 9.6% on a year-over-year basis. A number of brokerages recently issued reports on SKX. B. Riley reissued a “buy” rating and set a $32.00 price objective on shares of Skechers USA in a research report on Wednesday, April 26th. Wedbush reissued a “neutral” rating and set a $25.00 price objective on shares of Skechers USA in a research report on Tuesday, February 14th. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $25.00 price objective on shares of Skechers USA in a research report on Monday, April 24th. Zacks Investment Research raised Skechers USA from a “sell” rating to a “hold” rating in a research report on Tuesday, February 14th. Finally, Vetr downgraded Skechers USA from a “strong-buy” rating to a “hold” rating and set a $27.88 price objective for the company. in a research report on Monday, February 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $28.36.

Skechers USA (NYSE:SKX) traded down 3.315% on Wednesday, reaching $23.359. 1,957,512 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $25.54 and a 200-day moving average price of $25.01. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 15.149 and a beta of 0.30. Skechers USA has a 52 week low of $18.81 and a 52 week high of $32.71. Skechers USA also was the target of unusually large options trading on Monday. Stock investors purchased 23,797 call options on the company. This is an increase of 538% compared to the typical volume of 3,730 call options. In other news, COO David Weinberg sold 24,188 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $25.92, for a total transaction of $626,952.96. Following the sale, the chief operating officer now owns 244,188 shares of the company’s stock, valued at approximately $6,329,352.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark A. Nason sold 18,376 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $27.21, for a total value of $500,010.96. Following the sale, the insider now directly owns 78,752 shares in the company, valued at approximately $2,142,841.92. The disclosure for this sale can be found here. Insiders sold a total of 87,110 shares of company stock valued at $2,267,802 in the last quarter. Company insiders own 21.73% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parametrica Management Ltd purchased a new position in Skechers USA during the first quarter valued at approximately $236,000. Oxford Asset Management purchased a new position in Skechers USA during the fourth quarter valued at approximately $3,495,000. Cortina Asset Management LLC purchased a new position in Skechers USA during the fourth quarter valued at approximately $20,168,000. Russell Investments Group Ltd. purchased a new position in Skechers USA during the fourth quarter valued at approximately $1,833,000. Finally, Two Sigma Investments LP purchased a new position in Skechers USA during the fourth quarter valued at approximately $14,300,000. 61.40% of the stock is currently owned by institutional investors. About Skechers USA

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.

Get a free copy of the Zacks research report on Skechers USA (SKX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com Receive News & Ratings for Skechers USA Inc Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Skechers USA Inc and related companies with MarketBeat.com’s FREE daily email newsletter.

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Related posts

Leave a Comment