Skechers U.S.A. (SKX) Set to Announce Earnings on Thursday

Skechers U.S.A. (NYSE:SKX) is set to announce its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.10 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, February 1st. The textile maker reported $0.56 EPS for the quarter, beating the consensus estimate of $0.52 by $0.04. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business posted $0.48 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts expect Skechers U.S.A. to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Skechers U.S.A. Stock Down 1.5 %

Skechers U.S.A. stock opened at $56.52 on Thursday. Skechers U.S.A. has a twelve month low of $45.58 and a twelve month high of $65.17. The firm has a 50 day moving average price of $59.74 and a 200-day moving average price of $57.58. The company has a market capitalization of $8.66 billion, a P/E ratio of 16.19, a P/E/G ratio of 1.02 and a beta of 1.32. The company has a quick ratio of 1.46, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.

Insider Activity

In related news, President Michael Greenberg sold 25,282 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,544,983.02. Following the completion of the sale, the president now directly owns 123,441 shares in the company, valued at $7,543,479.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, President Michael Greenberg sold 25,282 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,544,983.02. Following the completion of the transaction, the president now owns 123,441 shares in the company, valued at $7,543,479.51. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark A. Nason sold 6,067 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $370,754.37. Following the sale, the executive vice president now directly owns 14,023 shares in the company, valued at approximately $856,945.53. The disclosure for this sale can be found here. Insiders sold 254,875 shares of company stock valued at $15,021,192 over the last three months. Insiders own 24.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Skechers U.S.A. by 705.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,135,092 shares of the textile maker’s stock valued at $112,434,000 after buying an additional 1,869,889 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Skechers U.S.A. by 757.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,543,936 shares of the textile maker’s stock valued at $73,368,000 after acquiring an additional 1,363,908 shares during the period. Norges Bank acquired a new stake in Skechers U.S.A. in the 4th quarter valued at $36,184,000. Schonfeld Strategic Advisors LLC grew its stake in Skechers U.S.A. by 1,102.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 905,292 shares of the textile maker’s stock valued at $37,977,000 after acquiring an additional 829,982 shares during the period. Finally, Two Sigma Investments LP grew its stake in Skechers U.S.A. by 6,824.6% in the 4th quarter. Two Sigma Investments LP now owns 503,768 shares of the textile maker’s stock valued at $21,133,000 after acquiring an additional 496,493 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SKX. Monness Crespi & Hardt increased their target price on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. TD Cowen raised their price objective on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Evercore ISI lowered their price objective on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday. Stifel Nicolaus lowered their price objective on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Finally, Raymond James lowered their price objective on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.17.

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.