Equities Analysts Offer Predictions for Skechers U.S.A., Inc.’s Q2 2024 Earnings (NYSE:SKX)

Skechers U.S.A., Inc. (NYSE:SKX) – Research analysts at Wedbush lowered their Q2 2024 earnings per share (EPS) estimates for Skechers U.S.A. in a research note issued to investors on Thursday, April 25th. Wedbush analyst T. Nikic now expects that the textile maker will earn $0.89 per share for the quarter, down from their prior forecast of $0.98. Wedbush currently has a “Outperform” rating and a $76.00 target price on the stock. The consensus estimate for Skechers U.S.A.’s current full-year earnings is $4.06 per share. Wedbush also issued estimates for Skechers U.S.A.’s Q4 2024 earnings at $0.70 EPS.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the firm posted $1.02 EPS. The company’s revenue was up 12.5% on a year-over-year basis.

Other analysts also recently issued reports about the company. Raymond James decreased their target price on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. TD Cowen boosted their target price on Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Stifel Nicolaus cut their price target on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Monness Crespi & Hardt raised their price objective on Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Evercore ISI decreased their price objective on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Skechers U.S.A. has an average rating of “Moderate Buy” and an average target price of $66.83.

Skechers U.S.A. Trading Down 0.2 %

Shares of SKX opened at $66.05 on Monday. The stock has a market capitalization of $10.12 billion, a PE ratio of 17.38, a P/E/G ratio of 1.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.56 and a current ratio of 2.39. The company’s fifty day moving average is $60.02 and its 200 day moving average is $58.42. Skechers U.S.A. has a fifty-two week low of $45.58 and a fifty-two week high of $69.07.

Insider Activity

In other Skechers U.S.A. news, EVP Mark A. Nason sold 6,432 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $58.83, for a total value of $378,394.56. Following the transaction, the executive vice president now directly owns 34,023 shares of the company’s stock, valued at approximately $2,001,573.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Robert Greenberg sold 30,339 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the transaction, the chief executive officer now owns 132,783 shares of the company’s stock, valued at approximately $8,114,369.13. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark A. Nason sold 6,432 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $58.83, for a total transaction of $378,394.56. Following the completion of the sale, the executive vice president now directly owns 34,023 shares of the company’s stock, valued at approximately $2,001,573.09. The disclosure for this sale can be found here. Insiders sold 254,875 shares of company stock worth $15,021,192 over the last three months. Insiders own 24.75% of the company’s stock.

Hedge Funds Weigh In On Skechers U.S.A.

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James & Associates lifted its stake in shares of Skechers U.S.A. by 354.5% in the 4th quarter. Raymond James & Associates now owns 52,280 shares of the textile maker’s stock valued at $3,259,000 after purchasing an additional 40,778 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in Skechers U.S.A. during the fourth quarter worth about $1,798,000. Vaughan Nelson Investment Management L.P. increased its position in shares of Skechers U.S.A. by 371.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 758,469 shares of the textile maker’s stock valued at $47,282,000 after acquiring an additional 597,702 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Skechers U.S.A. by 56.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 96,433 shares of the textile maker’s stock valued at $4,720,000 after acquiring an additional 34,926 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in shares of Skechers U.S.A. by 117.4% in the 3rd quarter. Hsbc Holdings PLC now owns 99,916 shares of the textile maker’s stock worth $4,915,000 after acquiring an additional 53,962 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.