Skechers USA (NYSE:SKX) Releases Q3 2019 Earnings Guidance

Skechers USA (NYSE:SKX) issued an update on its third quarter 2019 earnings guidance on Thursday morning. 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.

Shares of NYSE SKX traded up $0.41 during midday trading on Thursday, hitting $34.84. The company had a trading volume of 3,726,147 shares, compared to its average volume of 2,232,042. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.91 and a quick ratio of 2.00. Skechers USA has a twelve month low of $21.45 and a twelve month high of $35.66. The firm has a 50-day simple moving average of $31.21. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 2.43 and a beta of 0.72.

Skechers USA (NYSE:SKX) last announced its quarterly earnings data on Thursday, April 18th. The textile maker reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.01). Skechers USA had a net margin of 6.26% and a return on equity of 13.56%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the business earned $0.75 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts forecast that Skechers USA will post 2.03 earnings per share for the current fiscal year.

SKX has been the subject of several recent research reports. Susquehanna Bancshares upgraded shares of Skechers USA from a neutral rating to a positive rating and raised their target price for the company from $32.00 to $37.00 in a report on Wednesday, March 27th. OTR Global upgraded shares of Skechers USA from a mixed rating to a positive rating in a report on Thursday, July 11th. Finally, B. Riley restated a buy rating on shares of Skechers USA in a report on Friday, April 26th. 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 company’s stock. The stock has an average rating of Hold and an average price target of $32.33.

In related news, COO David Weinberg sold 18,907 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $31.17, for a total value of $589,331.19. Following the sale, the chief operating officer now directly owns 421,561 shares of the company’s stock, valued at $13,140,056.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Rappaport sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $31.29, for a total transaction of $93,870.00. Following the completion of the sale, the director now directly owns 23,000 shares in the company, valued at $719,670. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,690 shares of company stock valued at $2,900,456. 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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Earnings History and Estimates for Skechers USA (NYSE:SKX)

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