Skechers U.S.A. (NYSE:SKX – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.850-0.900 for the period, compared to the consensus estimate of 1.080. The company issued revenue guidance of $2.2 billion-$2.2 billion, compared to the consensus revenue estimate of $2.2 billion. Skechers U.S.A. also updated its FY 2024 guidance to 3.950-4.100 EPS.
Skechers U.S.A. Price Performance
Shares of SKX stock traded up $6.59 during trading hours on Friday, hitting $65.41. The company’s stock had a trading volume of 7,731,331 shares, compared to its average volume of 1,687,796. The business has a fifty day moving average of $59.73 and a 200-day moving average of $58.10. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 1.19 and a beta of 1.32. Skechers U.S.A. has a twelve month low of $45.58 and a twelve month high of $69.07. The company has a current ratio of 2.38, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 EPS for the quarter, beating the consensus estimate of $1.10 by $0.23. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.76%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 earnings per share. As a group, equities research analysts anticipate that Skechers U.S.A. will post 4.06 EPS for the current year.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on SKX
Insider Activity
In other news, COO David Weinberg sold 67,390 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $3,899,859.30. Following the transaction, the chief operating officer now owns 141,405 shares of the company’s stock, valued at approximately $8,183,107.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Robert Greenberg sold 30,339 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the completion of the sale, the chief executive officer now directly owns 132,783 shares of the company’s stock, valued at approximately $8,114,369.13. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO David Weinberg sold 67,390 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the sale, the chief operating officer now directly owns 141,405 shares of the company’s stock, valued at $8,183,107.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,875 shares of company stock valued at $15,021,192. Company insiders own 24.75% of the company’s stock.
Skechers U.S.A. Company Profile
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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