Skechers USA (NYSE:SKX) released its quarterly earnings results on Thursday. The textile maker reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.16, RTT News reports. Skechers USA had a return on equity of 13.56% and a net margin of 6.26%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the business posted $0.29 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. Skechers USA updated its Q3 2019 guidance to $0.65-0.70 EPS and its Q3 guidance to $0.65-0.70 EPS.

SKX stock traded up $0.41 during trading hours on Thursday, hitting $34.84. 3,726,147 shares of the stock traded hands, compared to its average volume of 2,232,042. The firm has a 50-day moving average of $31.35. Skechers USA has a one year low of $21.45 and a one year high of $35.66. The firm has a market capitalization of $5.44 billion, a P/E ratio of 18.15, a P/E/G ratio of 2.43 and a beta of 0.72. The company has a current ratio of 2.91, a quick ratio of 2.00 and a debt-to-equity ratio of 0.43.

In related news, CEO Robert Greenberg sold 25,210 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $31.17, for a total value of $785,795.70. Following the completion of the transaction, the chief executive officer now owns 625,210 shares in the company, valued at approximately $19,487,795.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Phillip Paccione sold 9,693 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $31.17, for a total value of $302,130.81. Following the completion of the transaction, the general counsel now owns 64,693 shares of the company’s stock, valued at approximately $2,016,480.81. The disclosure for this sale can be found here. Insiders have sold 92,690 shares of company stock valued at $2,900,456 in the last ninety days. Company insiders own 28.08% of the company’s stock.

Several research analysts have recently issued reports on the company. B. Riley reissued a “buy” rating on shares of Skechers USA in a research note on Friday, April 26th. Susquehanna Bancshares raised Skechers USA from a “neutral” rating to a “positive” rating and increased their price target for the stock from $32.00 to $37.00 in a research note on Wednesday, March 27th. Finally, OTR Global raised Skechers USA from a “mixed” rating to a “positive” rating in a research note on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $32.33.

Skechers USA Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.

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Earnings History for Skechers USA (NYSE:SKX)

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