Skechers USA, Inc. (NYSE:SKX) Q3 2022 EPS Estimates Cut by Analyst
Skechers USA, Inc. (NYSE: SKX – Get a rating) – Equity researchers B. Riley dropped their third-quarter 2022 EPS estimates for Skechers USA shares in a research note released Tuesday, July 26. B. Riley analyst S. Anderson now expects the textile maker to post earnings per share of $0.73 for the quarter, down from its previous estimate of $0.89. The consensus estimate for Skechers USA’s current annual earnings is $2.86 per share. B. Riley also released estimates for Skechers USA fourth quarter 2022 earnings at $0.59 EPS, fiscal year 2022 earnings at $2.63 EPS, and fiscal year 2023 earnings at $3.25. $EPS.
SKX has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lowered its price target on Skechers USA shares from $64.00 to $51.00 and placed a “hold” rating on the stock in a Monday, July 25 research note. Morgan Stanley cut its price target on Skechers USA shares from $62.00 to $59.00 and set an “overweight” rating for the company in a report on Wednesday. Argus moved Skechers USA shares from a “hold” rating to a “buy” rating and set a price target of $44.00 for the company in a Wednesday, June 15 report. Monness Crespi & Hardt cut its price target on Skechers USA shares to $50.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Wedbush cut its price target on Skechers USA shares from $48.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday. One analyst has rated the stock with a hold rating and nine have issued a buy rating for the stock. According to MarketBeat.com, Skechers USA currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.78.
Performance of Skechers USA shares
NYSE: SKX opened at $37.96 on Friday. Skechers USA has a 1 year minimum of $33.50 and a 1 year maximum of $55.80. The company’s fifty-day simple moving average is $37.66 and its 200-day simple moving average is $39.88. The company has a current ratio of 2.44, a quick ratio of 1.41 and a debt ratio of 0.07. The company has a market capitalization of $5.92 billion, a PE ratio of 7.79 and a beta of 1.32.
Institutional investors weigh in on Skechers USA
Several institutional investors have recently changed their stake in the company. Fifth Third Bancorp increased its position in Skechers USA shares by 79.3% during the first quarter. Fifth Third Bancorp now owns 710 shares of the textile maker worth $29,000 after buying 314 additional shares during the period. The Alaska State Department of Revenue increased its position in Skechers USA shares by 2.0% during the second quarter. The Alaska State Department of Revenue now owns 19,366 shares of the textile maker worth $689,000 after buying 385 additional shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Skechers USA shares by 5.6% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 7,480 shares of the textile maker worth $325,000 after buying 394 additional shares during the period. State of Michigan Retirement System increased its stake in Skechers USA by 1.2% during the fourth quarter. State of Michigan Retirement System now owns 34,164 shares of the textile maker worth $1,483,000 after acquiring 400 additional shares in the last quarter. Finally, Profund Advisors LLC increased its stake in Skechers USA by 5.7% in the 1st quarter. Profund Advisors LLC now owns 7,597 shares of the textile maker worth $310,000 after acquiring 412 additional shares in the last quarter. Institutional investors and hedge funds hold 79.71% of the company’s shares.
About Skechers Canada
Skechers U.SA, Inc designs, develops, markets and distributes footwear for men, women and children; and performance footwear for men and women worldwide. The Company operates through three segments: Domestic Wholesale, International Wholesale and Direct-to-Consumer. It offers casual, athletic casual, athletic, trail shoes, sandals, boots and retro fashion shoes for men and women under the brands Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason and BOBS; sneakers, casual shoes, boots and sandals for boys and girls under the brands Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit and Skechers Street; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail and Skechers GO Golf brands.
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