Skechers USA (NYSE:SKX) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.65-0.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.64. The company issued revenue guidance of $1.325-1.350 billion, compared to the consensus revenue estimate of $1.31 billion.Skechers USA also updated its Q3 2019 guidance to $0.65-0.70 EPS.
NYSE:SKX traded up $0.41 during midday trading on Thursday, reaching $34.84. The stock had a trading volume of 3,726,147 shares, compared to its average volume of 2,232,042. The business’s fifty day simple moving average is $31.35. Skechers USA has a 12-month low of $21.45 and a 12-month high of $35.66. The company has a current ratio of 2.91, a quick ratio of 2.00 and a debt-to-equity ratio of 0.43. The stock has a market cap of $5.44 billion, a PE ratio of 18.15, a P/E/G ratio of 2.43 and a beta of 0.72.
Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, July 18th. The textile maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.16. Skechers USA had a net margin of 6.26% and a return on equity of 13.56%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the firm posted $0.29 EPS. Skechers USA’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts expect that Skechers USA will post 2.03 EPS for the current year.
SKX has been the topic of a number of analyst reports. OTR Global upgraded shares of Skechers USA from a mixed rating to a positive rating in a research report on Thursday, July 11th. B. Riley reiterated a buy rating on shares of Skechers USA in a research report on Friday, April 26th. Finally, Susquehanna Bancshares upgraded shares of Skechers USA from a neutral rating to a positive rating and boosted their target price for the stock from $32.00 to $37.00 in a research report on Wednesday, March 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Skechers USA currently has an average rating of Hold and an average price target of $32.33.
In other Skechers USA news, General Counsel Phillip Paccione sold 9,693 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $31.17, for a total transaction of $302,130.81. Following the sale, the general counsel now directly owns 64,693 shares in the company, valued at approximately $2,016,480.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark A. Nason sold 13,191 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $32.00, for a total transaction of $422,112.00. Following the sale, the executive vice president now owns 86,943 shares in the company, valued at $2,782,176. The disclosure for this sale can be found here. Insiders have sold a total of 92,690 shares of company stock worth $2,900,456 over the last 90 days. Insiders own 28.08% of the company’s stock.
About Skechers USA
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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