Skechers U.S.A. (NYSE:SKX – Get Free Report) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.10-$1.15 for the period, compared to the consensus earnings per share estimate of $1.11. The company issued revenue guidance of $2.30-$2.35 billion, compared to the consensus revenue estimate of $2.22 billion. Skechers U.S.A. also updated its FY 2024 guidance to 4.080-4.180 EPS.
Wall Street Analyst Weigh In
SKX has been the topic of a number of research analyst reports. TD Cowen boosted their target price on Skechers U.S.A. from $77.00 to $79.00 and gave the stock a buy rating in a research note on Monday. Stifel Nicolaus boosted their price objective on Skechers U.S.A. from $81.00 to $83.00 and gave the stock a buy rating in a research report on Friday. Barclays raised their target price on Skechers U.S.A. from $78.00 to $79.00 and gave the company an overweight rating in a research report on Friday. Wedbush boosted their price target on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the stock an outperform rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft restated a buy rating and set a $82.00 price objective on shares of Skechers U.S.A. in a report on Thursday, June 13th. Fourteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $76.08.
Get Our Latest Stock Analysis on Skechers U.S.A.
Skechers U.S.A. Stock Performance
Skechers U.S.A. (NYSE:SKX – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.03). The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. Skechers U.S.A.’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. Sell-side analysts predict that Skechers U.S.A. will post 4.11 EPS for the current fiscal year.
Insider Transactions at Skechers U.S.A.
In related news, General Counsel Phillip Paccione sold 423 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total transaction of $29,377.35. Following the completion of the transaction, the general counsel now owns 35,000 shares of the company’s stock, valued at $2,430,750. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 24.75% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than Skechers U.S.A.
- Top Biotech Stocks: Exploring Innovation Opportunities
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
- Are Penny Stocks a Good Fit for Your Portfolio?
- Skechers Stock Shows Strength Among Consumer Discretionary Sector
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- Tech Stocks Tumble, These Stocks Present Buying Opportunity
Receive News & Ratings for Skechers U.S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers U.S.A. and related companies with MarketBeat.com's FREE daily email newsletter.