Skechers U.S.A. (NYSE:SKX - Get Free Report) released its quarterly earnings data on Thursday. The textile maker reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.11, Briefing.com reports. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.04%. The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the firm earned $0.93 EPS.
Skechers U.S.A. Price Performance
Shares of SKX stock traded down $2.41 during trading hours on Friday, reaching $59.23. 6,641,117 shares of the company were exchanged, compared to its average volume of 1,871,951. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.06 and a quick ratio of 1.33. The company has a market cap of $9.03 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 0.89 and a beta of 1.22. The stock's fifty day moving average is $65.98 and its two-hundred day moving average is $66.11. Skechers U.S.A. has a fifty-two week low of $45.58 and a fifty-two week high of $75.09.
Analysts Set New Price Targets
SKX has been the topic of a number of recent research reports. Bank of America decreased their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a report on Friday. Wedbush boosted their price target on Skechers U.S.A. from $76.00 to $79.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. TD Cowen dropped their price objective on Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Barclays lifted their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Skechers U.S.A. presently has an average rating of "Buy" and an average target price of $78.09.
View Our Latest Stock Analysis on Skechers U.S.A.
Skechers U.S.A. declared that its Board of Directors has authorized a share buyback program on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the textile maker to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.
About Skechers U.S.A.
(
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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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