Skechers USA (NYSE:SKX) Issues Q4 2019 Earnings Guidance
Skechers USA (NYSE:SKX) updated its fourth quarter 2019 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 $1.225-1.25 billion, compared to the consensus revenue estimate of $1.22 billion.
A number of analysts have recently commented on the company. UBS Group lifted their target price on Skechers USA to $50.00 and gave the stock a buy rating in a research report on Friday, July 19th. OTR Global upgraded Skechers USA from a mixed rating to a positive rating in a research report on Thursday, July 11th. Stifel Nicolaus lifted their target price on Skechers USA from $35.00 to $44.00 and gave the stock a buy rating in a research report on Friday, July 19th. Wells Fargo & Co set a $40.00 target price on Skechers USA and gave the stock a hold rating in a research report on Friday, July 19th. Finally, Wedbush set a $46.00 target price on Skechers USA and gave the stock a buy rating in a research report on Monday, September 23rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $40.35.
Shares of NYSE SKX traded up $0.50 during midday trading on Tuesday, reaching $38.00. 3,002,993 shares of the company were exchanged, compared to its average volume of 2,258,169. The company has a current ratio of 2.51, a quick ratio of 1.65 and a debt-to-equity ratio of 0.43. Skechers USA has a 1 year low of $21.45 and a 1 year high of $40.50. The stock has a fifty day simple moving average of $35.80 and a 200 day simple moving average of $33.01. The stock has a market cap of $6.01 billion, a P/E ratio of 19.79, a PEG ratio of 1.09 and a beta of 0.80.
In related news, Director Thomas Walsh sold 1,500 shares of the firm's stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $39.77, for a total transaction of $59,655.00. Following the transaction, the director now owns 15,500 shares of the company's stock, valued at $616,435. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey Greenberg sold 90,000 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $37.05, for a total value of $3,334,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 386,500 shares of company stock worth $13,995,705. Corporate insiders own 28.08% of the company's stock.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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Skechers USA (NYSE:SKX) issued an update on its fourth quarter 2019 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.35-0.40 for the period, compared to the Thomson Reuters consensus earnings
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