Skechers U.S.A. (NYSE:SKX – Get Free Report) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.100-1.150 for the period, compared to the consensus earnings per share estimate of 1.110. The company issued revenue guidance of $2.3 billion-$2.4 billion, compared to the consensus revenue estimate of $2.2 billion. Skechers U.S.A. also updated its FY 2024 guidance to 4.080-4.180 EPS.
Skechers U.S.A. Price Performance
Shares of SKX traded up $1.01 during trading hours on Friday, reaching $64.72. The stock had a trading volume of 4,598,539 shares, compared to its average volume of 1,979,548. Skechers U.S.A. has a 12 month low of $45.58 and a 12 month high of $75.09. The stock has a market capitalization of $9.87 billion, a PE ratio of 17.03, a PEG ratio of 0.92 and a beta of 1.25. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.56 and a current ratio of 2.39. The company’s 50-day moving average is $69.15 and its two-hundred day moving average is $64.14.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.10%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. Research analysts expect that Skechers U.S.A. will post 4.18 EPS for the current year.
Wall Street Analysts Forecast Growth
Read Our Latest Analysis on SKX
Insider Activity
In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of Skechers U.S.A. stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $69.45, for a total transaction of $29,377.35. Following the completion of the transaction, the general counsel now owns 35,000 shares in the company, valued at approximately $2,430,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 24.75% of the stock is currently owned by company insiders.
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.
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