Skechers USA Inc (SKX) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS
Skechers USA Inc (NYSE:SKX) issued its quarterly earnings results on Thursday. The textile maker reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. Skechers USA had a return on equity of 15.10% and a net margin of 6.83%. The company earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. Skechers USA updated its Q2 guidance to $0.42-0.47 EPS.
Skechers USA (NYSE:SKX) opened at 26.15 on Friday. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 16.66 and a beta of 0.30. Skechers USA has a 52 week low of $18.81 and a 52 week high of $34.19. The company has a 50 day moving average price of $26.55 and a 200 day moving average price of $24.59.
WARNING: “Skechers USA Inc (SKX) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS” was posted by Daily Political and is the property of of Daily Political. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright laws. The correct version of this article can be read at https://www.dailypolitical.com/2017/04/21/skechers-usa-inc-skx-posts-quarterly-earnings-results-beats-estimates-by-0-05-eps.html.
In other news, COO David Weinberg sold 24,188 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $25.92, for a total transaction of $626,952.96. Following the completion of the transaction, the chief operating officer now directly owns 244,188 shares of the company’s stock, valued at approximately $6,329,352.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Phillip Paccione sold 18,794 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $25.92, for a total transaction of $487,140.48. Following the transaction, the general counsel now directly owns 78,794 shares of the company’s stock, valued at $2,042,340.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,608 shares of company stock valued at $1,678,372. Corporate insiders own 21.73% of the company’s stock.
A number of analysts have commented on the company. Vetr cut Skechers USA from a “strong-buy” rating to a “hold” rating and set a $27.88 price target for the company. in a research report on Monday, February 13th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $30.00 price target on shares of Skechers USA in a research report on Thursday, February 16th. Monness Crespi & Hardt raised Skechers USA from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Saturday, December 31st. Zacks Investment Research raised Skechers USA from a “sell” rating to a “hold” rating in a research report on Tuesday, February 14th. Finally, Standpoint Research cut Skechers USA from a “buy” rating to a “hold” rating in a research report on Thursday, March 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $29.02.
About Skechers USA
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
Receive News & Ratings for Skechers USA Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA Inc and related companies with MarketBeat.com's FREE daily email newsletter.