Skechers U.S.A. (SKX) Scheduled to Post Earnings on Thursday

Skechers U.S.A. (NYSE:SKX) will be releasing its earnings data after the market closes on Thursday, October 24th. Analysts expect Skechers U.S.A. to post earnings of $1.15 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.91 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.04). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.04%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, analysts expect Skechers U.S.A. to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Skechers U.S.A. Price Performance

NYSE:SKX opened at $62.71 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.06 and a quick ratio of 1.33. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 0.95 and a beta of 1.22. The company has a 50 day moving average price of $66.19 and a 200-day moving average price of $66.01. Skechers U.S.A. has a 1-year low of $45.58 and a 1-year high of $75.09.

Skechers U.S.A. announced that its Board of Directors has approved a stock repurchase program on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the textile maker to buy up to 10.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SKX shares. Stifel Nicolaus boosted their price target on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Evercore ISI upped their price objective on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Wedbush increased their target price on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Morgan Stanley upgraded shares of Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $80.00 in a report on Tuesday, July 23rd. Finally, Bank of America reduced their price objective on shares of Skechers U.S.A. from $87.00 to $81.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Skechers U.S.A. currently has a consensus rating of “Buy” and an average price target of $77.55.

Skechers U.S.A. Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.