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

Skechers U.S.A. (NYSE:SKX) posted its quarterly earnings results on Thursday. The textile maker reported $0.91 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.04), Briefing.com reports. Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.10%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year.

Skechers U.S.A. Stock Up 1.6 %

NYSE:SKX opened at $64.72 on Friday. The firm has a market capitalization of $9.87 billion, a P/E ratio of 17.03, a PEG ratio of 0.92 and a beta of 1.25. Skechers U.S.A. has a 1-year low of $45.58 and a 1-year high of $75.09. The company’s fifty day moving average price is $69.15 and its 200-day moving average price is $64.14. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.56.

Insider Transactions at Skechers U.S.A.

In other news, General Counsel Phillip Paccione sold 423 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total value of $29,377.35. Following the sale, the general counsel now owns 35,000 shares in the company, valued at $2,430,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 24.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SKX shares. Wedbush boosted their price objective on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday. Wells Fargo & Company started coverage on shares of Skechers U.S.A. in a research note on Wednesday, June 12th. They set an “overweight” rating and a $83.00 price objective for the company. Stifel Nicolaus boosted their price objective on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday. TD Cowen boosted their price objective on shares of Skechers U.S.A. from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Evercore ISI boosted their price objective on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday. Fourteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $76.08.

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.