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Skechers U.S.A. (NYSE:SKX) Issues Quarterly Earnings Results, Beats Expectations By $0.27 EPS

Skechers U.S.A. logo with Consumer Discretionary background

Key Points

  • Skechers U.S.A. reported quarterly earnings of $1.13 EPS, surpassing analyst expectations by $0.27.
  • The company's stock has a market cap of $9.42 billion and a PE ratio of 15.13, with shares trading at $62.96.
  • Analysts have mixed ratings on SKX, with a consensus rating of "Hold" and an average target price of $66.75.
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Skechers U.S.A. (NYSE:SKX - Get Free Report) announced its quarterly earnings data on Friday. The textile maker reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.27, Zacks reports. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.07%. Skechers U.S.A.'s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 EPS.

Skechers U.S.A. Price Performance

SKX traded down $0.04 during trading on Tuesday, reaching $62.88. 1,977,140 shares of the company were exchanged, compared to its average volume of 4,606,455. The company's 50-day moving average is $62.89 and its two-hundred day moving average is $60.30. The company has a market cap of $9.41 billion, a price-to-earnings ratio of 14.36 and a beta of 1.16. The company has a quick ratio of 1.28, a current ratio of 2.13 and a debt-to-equity ratio of 0.02. Skechers U.S.A. has a 12-month low of $44.50 and a 12-month high of $78.85.

Institutional Trading of Skechers U.S.A.

An institutional investor recently raised its position in Skechers U.S.A. stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 4.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 394,235 shares of the textile maker's stock after purchasing an additional 16,915 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.26% of Skechers U.S.A. worth $22,385,000 as of its most recent SEC filing. 79.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Monness Crespi & Hardt lowered shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Raymond James Financial downgraded shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. Morgan Stanley reissued an "equal weight" rating and issued a $63.00 price target (down from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Wall Street Zen started coverage on Skechers U.S.A. in a research report on Thursday, May 22nd. They issued a "sell" rating for the company. Finally, Evercore ISI dropped their price target on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $66.75.

Read Our Latest Stock Report on Skechers U.S.A.

Skechers U.S.A. Company Profile

(Get Free Report)

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.

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Earnings History for Skechers U.S.A. (NYSE:SKX)

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