Wall Street brokerages expect Skechers USA Inc (NYSE:SKX) to announce $1.21 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Skechers USA’s earnings, with estimates ranging from $1.21 billion to $1.22 billion. Skechers USA posted sales of $1.13 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 7.1%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Skechers USA will report full-year sales of $5.00 billion for the current financial year, with estimates ranging from $4.96 billion to $5.02 billion. For the next year, analysts expect that the company will report sales of $5.44 billion, with estimates ranging from $5.29 billion to $5.57 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Skechers USA.

Skechers USA (NYSE:SKX) last announced its quarterly earnings data on Thursday, April 18th. The textile maker reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.01). Skechers USA had a return on equity of 13.56% and a net margin of 6.26%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the business posted $0.75 EPS. Skechers USA’s revenue for the quarter was up 2.1% compared to the same quarter last year.

A number of brokerages have issued reports on SKX. TheStreet raised shares of Skechers USA from a “c+” rating to a “b” rating in a report on Thursday, February 14th. B. Riley reaffirmed a “buy” rating on shares of Skechers USA in a research note on Friday, April 26th. Monness Crespi & Hardt reiterated a “buy” rating and set a $35.00 target price (up previously from $32.00) on shares of Skechers USA in a report on Friday, February 8th. UBS Group boosted their target price on Skechers USA from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, February 11th. Finally, Cowen reiterated a “hold” rating and set a $34.00 target price on shares of Skechers USA in a report on Tuesday, February 12th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $32.33.

Shares of NYSE:SKX traded up $0.12 during trading on Friday, hitting $28.09. 1,494,964 shares of the stock were exchanged, compared to its average volume of 2,476,816. Skechers USA has a 1-year low of $21.45 and a 1-year high of $35.66. The firm has a market capitalization of $4.34 billion, a PE ratio of 14.63, a PEG ratio of 1.95 and a beta of 0.57. The company has a current ratio of 2.91, a quick ratio of 1.89 and a debt-to-equity ratio of 0.43.

In related news, General Counsel Phillip Paccione sold 9,693 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $31.17, for a total value of $302,130.81. Following the completion of the sale, the general counsel now directly owns 64,693 shares of the company’s stock, valued at approximately $2,016,480.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Greenberg sold 50,420 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $34.09, for a total value of $1,718,817.80. Following the completion of the sale, the chief executive officer now directly owns 700,420 shares of the company’s stock, valued at $23,877,317.80. The disclosure for this sale can be found here. Insiders have sold a total of 614,567 shares of company stock valued at $20,540,387 in the last quarter. Company insiders own 28.08% of the company’s stock.

A number of institutional investors have recently made changes to their positions in SKX. Vanguard Group Inc. grew its stake in shares of Skechers USA by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,745,336 shares of the textile maker’s stock valued at $328,049,000 after buying an additional 239,133 shares during the period. BlackRock Inc. grew its holdings in Skechers USA by 1.1% in the first quarter. BlackRock Inc. now owns 11,671,591 shares of the textile maker’s stock worth $392,282,000 after purchasing an additional 128,330 shares during the period. ArrowMark Colorado Holdings LLC grew its holdings in Skechers USA by 7.7% in the first quarter. ArrowMark Colorado Holdings LLC now owns 9,629,068 shares of the textile maker’s stock worth $323,633,000 after purchasing an additional 686,250 shares during the period. Bank of New York Mellon Corp grew its holdings in Skechers USA by 8.3% in the fourth quarter. Bank of New York Mellon Corp now owns 7,152,667 shares of the textile maker’s stock worth $163,725,000 after purchasing an additional 548,322 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Skechers USA by 4.1% in the first quarter. Wellington Management Group LLP now owns 4,816,701 shares of the textile maker’s stock worth $161,889,000 after purchasing an additional 188,042 shares during the period. 77.28% of the stock is owned by hedge funds and other institutional investors.

About Skechers USA

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.

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