Skechers U.S.A. (NYSE:SKX – Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.700-0.750 for the period, compared to the consensus earnings per share 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.
Skechers U.S.A. Price Performance
Skechers U.S.A. stock traded down $0.04 during trading hours on Thursday, hitting $61.63. 3,080,982 shares of the company traded hands, compared to its average volume of 1,847,306. The firm has a market cap of $9.39 billion, a P/E ratio of 16.51, a P/E/G ratio of 0.89 and a beta of 1.22. The company has a quick ratio of 1.33, a current ratio of 2.06 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $66.17 and its two-hundred day simple moving average is $66.13. Skechers U.S.A. has a 1-year low of $45.58 and a 1-year high of $75.09.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last released its earnings results on Thursday, July 25th. The textile maker reported $0.91 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.04). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.04%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. As a group, analysts forecast that Skechers U.S.A. will post 4.15 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on SKX shares. Evercore ISI lifted their price objective on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Bank of America lowered their price objective on shares of Skechers U.S.A. from $87.00 to $81.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Stifel Nicolaus lifted their price objective on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Wedbush lifted their price objective on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Barclays lifted their price objective on shares of Skechers U.S.A. from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Skechers U.S.A. presently has an average rating of “Buy” and a consensus price target of $77.55.
Get Our Latest Stock Report on SKX
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.
Featured Stories
- Five stocks we like better than Skechers U.S.A.
- Investing in Commodities: What Are They? How to Invest in Them
- Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
- What is the Nasdaq? Complete Overview with History
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- Tesla Stock: Buy the Dips, Sell the Rips
Receive News & Ratings for Skechers U.S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers U.S.A. and related companies with MarketBeat.com's FREE daily email newsletter.