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

Skechers U.S.A. (NYSE:SKX) announced its quarterly earnings data on Thursday. The textile maker reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23, Briefing.com reports. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company earned $1.02 EPS. The company’s quarterly revenue was up 12.5% on a year-over-year basis.

Skechers U.S.A. Stock Up 12.4 %

SKX traded up $7.29 on Friday, hitting $66.11. 5,362,429 shares of the company were exchanged, compared to its average volume of 1,691,023. Skechers U.S.A. has a 12 month low of $45.58 and a 12 month high of $69.07. The company has a market cap of $10.13 billion, a PE ratio of 19.23, a PEG ratio of 1.07 and a beta of 1.32. 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’s fifty day moving average is $59.61 and its 200-day moving average is $57.92.

Insiders Place Their Bets

In other Skechers U.S.A. news, COO David Weinberg sold 67,390 shares of the business’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 transaction, the chief operating officer now owns 141,405 shares of the company’s stock, valued at $8,183,107.35. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Skechers U.S.A. news, COO David Weinberg sold 67,390 shares of the business’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 transaction, the chief operating officer now owns 141,405 shares of the company’s stock, valued at $8,183,107.35. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Michael Greenberg sold 25,282 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.11, for a total value of $1,544,983.02. Following the sale, the president now directly owns 123,441 shares in the company, valued at approximately $7,543,479.51. The disclosure for this sale can be found here. Insiders have sold a total of 254,875 shares of company stock valued at $15,021,192 over the last 90 days. 24.75% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SKX has been the subject of several research reports. Barclays initiated coverage on Skechers U.S.A. in a research note on Monday, April 1st. They issued an “overweight” rating and a $71.00 target price for the company. Bank of America assumed coverage on Skechers U.S.A. in a research note on Friday, March 8th. They set a “neutral” rating and a $67.00 price objective for the company. TD Cowen lifted their price objective on Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Wedbush lifted their price objective on Skechers U.S.A. from $68.00 to $76.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Evercore ISI decreased their target price on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.83.

About Skechers U.S.A.

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.