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

Skechers U.S.A. (NYSE:SKX) is expected to post its quarterly earnings results after the market closes on Thursday, February 6th. Analysts expect Skechers U.S.A. to post earnings of $0.73 per share and revenue of $2.22 billion for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock opened at $76.78 on Thursday. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $11.59 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 0.90 and a beta of 1.19. The business’s 50-day moving average price is $68.70 and its 200-day moving average price is $65.98. Skechers U.S.A. has a 12 month low of $55.67 and a 12 month high of $77.85.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Evercore ISI increased their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Morgan Stanley raised their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Barclays raised their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Piper Sandler initiated coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and an average target price of $80.18.

Insiders Place Their Bets

In other news, COO David Weinberg sold 8,219 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the completion of the transaction, the chief operating officer now owns 122,211 shares in the company, valued at $8,246,798.28. This trade represents a 6.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. The trade was a 6.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 24.75% of the company’s stock.

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.