Brokerages predict that Skechers USA Inc (NYSE:SKX) will report earnings of $0.72 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Skechers USA’s earnings. The highest EPS estimate is $0.75 and the lowest is $0.70. Skechers USA reported earnings of $0.75 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 4%. The business is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Skechers USA will report full-year earnings of $2.04 per share for the current fiscal year, with EPS estimates ranging from $1.98 to $2.10. For the next year, analysts expect that the firm will post earnings of $2.23 per share, with EPS estimates ranging from $2.07 to $2.38. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Skechers USA.

Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, February 7th. The textile maker reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.08. Skechers USA had a return on equity of 14.08% and a net margin of 6.49%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the business earned $0.21 earnings per share. The company’s revenue was up 11.4% compared to the same quarter last year.

A number of brokerages have issued reports on SKX. Standpoint Research cut Skechers USA from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. TheStreet upgraded Skechers USA from a “c+” rating to a “b” rating in a report on Thursday, February 14th. Cowen restated a “hold” rating and set a $34.00 target price on shares of Skechers USA in a report on Tuesday, February 12th. UBS Group raised their target price on Skechers USA from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, February 11th. Finally, Cfra lowered Skechers USA from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $32.33.

In related news, Director Jeffrey Greenberg sold 30,000 shares of Skechers USA stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $32.33, for a total value of $969,900.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert Greenberg sold 50,420 shares of Skechers USA stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $34.09, for a total value of $1,718,817.80. Following the completion of the sale, the chief executive officer now directly owns 700,420 shares in the company, valued at approximately $23,877,317.80. The disclosure for this sale can be found here. In the last three months, insiders sold 495,108 shares of company stock worth $16,691,886. 27.88% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in SKX. Bank of New York Mellon Corp raised its position in Skechers USA by 335.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,604,345 shares of the textile maker’s stock valued at $184,459,000 after buying an additional 5,087,296 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Skechers USA in the 4th quarter valued at approximately $56,133,000. Norges Bank acquired a new stake in Skechers USA in the 4th quarter valued at approximately $29,796,000. Oregon Public Employees Retirement Fund raised its position in Skechers USA by 2,192.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,233,771 shares of the textile maker’s stock valued at $54,000 after buying an additional 1,179,958 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in Skechers USA in the 3rd quarter valued at approximately $30,230,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

SKX traded up $0.43 during midday trading on Monday, reaching $34.84. 1,644,921 shares of the company were exchanged, compared to its average volume of 2,416,838. The company has a current ratio of 2.91, a quick ratio of 1.89 and a debt-to-equity ratio of 0.04. Skechers USA has a one year low of $21.45 and a one year high of $43.08. The stock has a market cap of $5.44 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 2.40 and a beta of 0.62.

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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