Skechers U.S.A. (SKX) Projected to Post Quarterly Earnings on Thursday

Skechers U.S.A. (NYSE:SKX) will likely be issuing its quarterly earnings data after the market closes on Thursday, February 6th. Analysts expect the company to announce earnings of $0.73 per share and revenue of $2.22 billion for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Skechers U.S.A. Price Performance

SKX stock opened at $72.51 on Tuesday. The stock’s 50 day moving average is $69.65 and its two-hundred day moving average is $66.20. The company has a market capitalization of $10.95 billion, a PE ratio of 17.86, a P/E/G ratio of 0.92 and a beta of 1.19. Skechers U.S.A. has a 52-week low of $55.67 and a 52-week high of $78.85. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01.

Analyst Ratings Changes

SKX has been the subject of a number of research analyst reports. Evercore ISI boosted their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Morgan Stanley increased their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft increased their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Piper Sandler started coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price target for the company. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.18.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the transaction, the chief operating officer now owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael Greenberg sold 10,274 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the transaction, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. This trade represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.75% of the company’s stock.

About Skechers U.S.A.

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.