Analysts forecast that Skechers USA Inc (NYSE:SKX) will post earnings per share of $0.69 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Skechers USA’s earnings, with estimates ranging from $0.66 to $0.72. Skechers USA reported earnings of $0.58 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 19%. The firm is expected to report its next earnings report after the market closes on Tuesday, October 22nd.
According to Zacks, analysts expect that Skechers USA will report full year earnings of $2.27 per share for the current financial year, with EPS estimates ranging from $2.22 to $2.32. For the next financial year, analysts forecast that the business will post earnings of $2.55 per share, with EPS estimates ranging from $2.40 to $2.65. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Skechers USA.
A number of analysts recently commented on the company. Monness Crespi & Hardt reiterated a “buy” rating and set a $42.00 price target (up from $35.00) on shares of Skechers USA in a report on Friday, July 19th. They noted that the move was a valuation call. Morgan Stanley increased their target price on Skechers USA from $29.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Stifel Nicolaus increased their target price on Skechers USA from $35.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. ValuEngine lowered Skechers USA from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Co set a $40.00 target price on Skechers USA and gave the stock a “hold” rating in a research report on Friday, July 19th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $40.35.
Institutional investors and hedge funds have recently modified their holdings of the business. NuWave Investment Management LLC raised its holdings in Skechers USA by 271.4% in the 3rd quarter. NuWave Investment Management LLC now owns 713 shares of the textile maker’s stock worth $26,000 after purchasing an additional 521 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Skechers USA by 1,270.7% during the third quarter. Meeder Asset Management Inc. now owns 1,028 shares of the textile maker’s stock valued at $39,000 after buying an additional 953 shares during the period. Hanseatic Management Services Inc. purchased a new position in shares of Skechers USA during the second quarter valued at approximately $43,000. Cerebellum GP LLC purchased a new position in shares of Skechers USA during the third quarter valued at approximately $63,000. Finally, Machina Capital S.A.S. purchased a new position in shares of Skechers USA during the second quarter valued at approximately $120,000. Institutional investors and hedge funds own 76.34% of the company’s stock.
Skechers USA stock traded up $0.50 during mid-day trading on Tuesday, reaching $38.00. 3,002,993 shares of the company’s stock were exchanged, compared to its average volume of 2,258,169. The business’s fifty day simple moving average is $35.93 and its 200 day simple moving average is $33.03. The firm has a market capitalization of $6.01 billion, a PE ratio of 19.79, a P/E/G ratio of 1.09 and a beta of 0.80. Skechers USA has a one year low of $21.45 and a one year high of $40.50. The company has a quick ratio of 1.65, a current ratio of 2.51 and a debt-to-equity ratio of 0.43.
Skechers USA Company Profile
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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