Skechers U.S.A. (NYSE:SKX) Releases Q4 2024 Earnings Guidance

Skechers U.S.A. (NYSE:SKX) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.700-0.750 for the period, compared to the consensus estimate of 0.750. 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 4.200-4.250 EPS.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SKX. Evercore ISI increased their target price on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Wedbush increased their price target on Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Stifel Nicolaus boosted their price objective on Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. TD Cowen decreased their target price 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. Finally, Morgan Stanley boosted their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Skechers U.S.A. presently has a consensus rating of “Buy” and a consensus target price of $78.09.

Skechers U.S.A. Stock Down 3.9 %

SKX traded down $2.41 during trading on Friday, hitting $59.23. 6,641,117 shares of the company’s stock were exchanged, compared to its average volume of 1,871,951. Skechers U.S.A. has a fifty-two week low of $45.58 and a fifty-two week high of $75.09. The stock has a market cap of $9.03 billion, a P/E ratio of 15.59, a PEG ratio of 0.89 and a beta of 1.22. The business’s 50 day moving average is $65.98 and its two-hundred day moving average is $66.11. The company has a quick ratio of 1.33, a current ratio of 2.06 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.04% and a net margin of 6.90%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the business posted $0.93 earnings per share. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, equities analysts expect that Skechers U.S.A. will post 4.15 earnings per share for the current fiscal year.

Skechers U.S.A. declared that its board has authorized a share repurchase plan on Thursday, July 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the textile maker to purchase up to 10.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.