Skechers U.S.A. (NYSE:SKX) Releases Q4 2024 Earnings Guidance

Skechers U.S.A. (NYSE:SKX) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.700-0.750 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

SKX has been the topic of several analyst reports. Barclays lifted their target price on shares of Skechers U.S.A. from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. TD Cowen cut their target price on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Stifel Nicolaus raised their target price on Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Bank of America lowered their price target on Skechers U.S.A. from $87.00 to $81.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Finally, Evercore ISI increased their price objective on 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. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $77.55.

Skechers U.S.A. Stock Down 0.1 %

NYSE SKX traded down $0.05 on Thursday, reaching $61.62. The stock had a trading volume of 3,372,481 shares, compared to its average volume of 1,848,637. Skechers U.S.A. has a 1 year low of $45.58 and a 1 year high of $75.09. The business has a 50 day moving average price of $66.17 and a 200 day moving average price of $66.13. The company has a current ratio of 2.06, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 0.89 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly 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 firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.04%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. On average, analysts forecast that Skechers U.S.A. will post 4.15 EPS for the current fiscal year.

Skechers U.S.A. declared that its Board of Directors has approved a stock buyback program on Thursday, July 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the textile maker to reacquire up to 10.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.