Skechers U.S.A. (NYSE:SKX – Get Free Report) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.85-0.90 for the period, compared to the consensus estimate of $1.08. The company issued revenue guidance of $2.175-2.225 billion, compared to the consensus revenue estimate of $2.20 billion. Skechers U.S.A. also updated its FY 2024 guidance to 3.950-4.100 EPS.
Skechers U.S.A. Stock Performance
NYSE:SKX traded up $6.59 during mid-day trading on Friday, hitting $65.41. The stock had a trading volume of 7,731,331 shares, compared to its average volume of 1,687,796. Skechers U.S.A. has a twelve month low of $45.58 and a twelve month high of $69.07. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.19 and a beta of 1.32. The company’s 50 day simple moving average is $59.73 and its 200 day simple moving average is $58.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.23. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.76%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the business posted $1.02 earnings per share. On average, equities research analysts forecast that Skechers U.S.A. will post 4.06 earnings per share for the current year.
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Insider Activity at Skechers U.S.A.
In other Skechers U.S.A. news, CEO Robert Greenberg sold 99,139 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $5,737,173.93. Following the completion of the sale, the chief executive officer now directly owns 196,050 shares of the company’s stock, valued at $11,345,413.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Robert Greenberg sold 99,139 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $5,737,173.93. Following the completion of the sale, the chief executive officer now directly owns 196,050 shares of the company’s stock, valued at $11,345,413.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Michael Greenberg sold 25,282 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.11, for a total transaction of $1,544,983.02. Following the completion of the sale, the president now directly owns 123,441 shares of the company’s stock, valued at $7,543,479.51. The disclosure for this sale can be found here. Insiders have sold a total of 254,875 shares of company stock worth $15,021,192 over the last quarter. Company 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.
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