Skechers U.S.A. (NYSE:SKX) Announces Earnings Results

Skechers U.S.A. (NYSE:SKX) announced its earnings results on Thursday. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.23, Briefing.com reports. Skechers U.S.A. had a return on equity of 13.76% and a net margin of 7.17%. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the firm posted $1.02 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis.

Skechers U.S.A. Stock Performance

SKX opened at $65.39 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.07 and a beta of 1.32. The company has a fifty day moving average of $59.73 and a 200 day moving average of $58.04. Skechers U.S.A. has a fifty-two week low of $45.58 and a fifty-two week high of $69.07.

Analysts Set New Price Targets

SKX has been the subject of several recent research reports. Raymond James cut their target price on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Stifel Nicolaus lowered their target price on 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. Bank of America assumed coverage on Skechers U.S.A. in a research report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price target for the company. Monness Crespi & Hardt lifted their price objective on Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Finally, Evercore ISI reduced their target price on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Two 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 an average target price of $66.83.

Insiders Place Their Bets

In other Skechers U.S.A. news, COO David Weinberg sold 67,390 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the completion of the transaction, the chief operating officer now owns 141,405 shares of the company’s stock, valued at approximately $8,183,107.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO David Weinberg sold 67,390 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the sale, the chief operating officer now directly owns 141,405 shares of the company’s stock, valued at approximately $8,183,107.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Greenberg sold 99,139 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $5,737,173.93. Following the transaction, the chief executive officer now owns 196,050 shares of the company’s stock, valued at $11,345,413.50. The disclosure for this sale can be found here. Insiders have sold a total of 254,875 shares of company stock worth $15,021,192 in the last 90 days. 24.75% of the stock is currently owned by corporate insiders.

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.