Skechers U.S.A. (SKX) to Release Earnings on Thursday

Skechers U.S.A. (NYSE:SKX) is set to issue its quarterly earnings data after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $1.15 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). Skechers U.S.A. had a return on equity of 13.04% and a net margin of 6.90%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. Skechers U.S.A.’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, analysts expect Skechers U.S.A. to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock opened at $62.36 on Tuesday. The company has a market cap of $9.51 billion, a PE ratio of 16.41, a PEG ratio of 0.90 and a beta of 1.22. The company has a current ratio of 2.06, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Skechers U.S.A. has a 1 year low of $45.58 and a 1 year high of $75.09. The company’s 50-day moving average is $66.21 and its two-hundred day moving average is $66.13.

Skechers U.S.A. announced that its board has authorized a share buyback program on Thursday, July 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the textile maker to purchase up to 10.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. TD Cowen reduced their price objective on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Barclays raised their price target on Skechers U.S.A. from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Stifel Nicolaus lifted their price objective on Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Wedbush increased their target price on Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Morgan Stanley upgraded Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $80.00 in a research report on Tuesday, July 23rd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $77.55.

Skechers U.S.A. Company Profile

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.