Skechers USA (NYSE:SKX) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.35-0.40 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.39. The company issued revenue guidance of $1.225-1.250 billion, compared to the consensus revenue estimate of $1.22 billion.Skechers USA also updated its Q4 2019 guidance to $0.35-0.40 EPS.
A number of equities analysts have issued reports on the company. Wedbush set a $46.00 price target on Skechers USA and gave the stock a buy rating in a research report on Monday, September 23rd. Susquehanna Bancshares increased their price target on Skechers USA from $37.00 to $42.00 and gave the stock a positive rating in a research report on Friday, July 19th. ValuEngine downgraded Skechers USA from a hold rating to a sell rating in a research report on Wednesday, October 2nd. Monness Crespi & Hardt reiterated a buy rating and set a $42.00 price target (up previously from $35.00) on shares of Skechers USA in a research report on Friday, July 19th. They noted that the move was a valuation call. Finally, UBS Group increased their price target on Skechers USA to $50.00 and gave the stock a buy rating in a research report on Friday, July 19th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Skechers USA presently has a consensus rating of Hold and an average target price of $40.35.
Shares of Skechers USA stock traded up $0.50 during mid-day trading on Tuesday, reaching $38.00. 3,002,993 shares of the stock traded hands, compared to its average volume of 2,258,169. The business has a 50-day moving average of $35.93 and a 200 day moving average of $33.03. Skechers USA has a fifty-two week low of $21.45 and a fifty-two week high of $40.50. The stock has a market capitalization of $6.01 billion, a PE ratio of 19.79, a PEG ratio of 1.09 and a beta of 0.80. The company has a quick ratio of 1.65, a current ratio of 2.51 and a debt-to-equity ratio of 0.43.
In other Skechers USA news, Director Jeffrey Greenberg sold 100,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $34.53, for a total transaction of $3,453,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Siskind sold 15,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $36.25, for a total value of $543,750.00. Following the transaction, the director now directly owns 172,499 shares of the company’s stock, valued at approximately $6,253,088.75. The disclosure for this sale can be found here. Insiders have sold 386,500 shares of company stock valued at $13,995,705 in the last three months. Insiders own 28.08% of the company’s stock.
About Skechers USA
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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