Skechers U.S.A. (NYSE:SKX – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $2.60-$2.70 for the period, compared to the consensus earnings per share estimate of $2.89. The company issued revenue guidance of $7.20 billion-$7.40 billion, compared to the consensus revenue estimate of $7.34 billion. Skechers U.S.A. also updated its Q3 2022 guidance to $0.70-$0.75 EPS.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on SKX. Cowen decreased their price objective on Skechers U.S.A. to $39.00 and set an outperform rating for the company in a report on Monday, July 25th. Berenberg Bank restated a buy rating and issued a $71.00 target price on shares of Skechers U.S.A. in a research report on Tuesday, May 17th. TheStreet downgraded Skechers U.S.A. from a b rating to a c+ rating in a research report on Tuesday, May 17th. Argus upgraded Skechers U.S.A. from a hold rating to a buy rating and set a $44.00 target price for the company in a research report on Wednesday, June 15th. Finally, Wedbush cut their target price on Skechers U.S.A. from $48.00 to $42.00 and set an outperform rating for the company in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Skechers U.S.A. presently has an average rating of Moderate Buy and a consensus price target of $51.89.
Skechers U.S.A. Stock Performance
Shares of Skechers U.S.A. stock opened at $39.33 on Friday. The stock has a market cap of $6.14 billion, a PE ratio of 8.61 and a beta of 1.30. The business has a fifty day simple moving average of $37.84 and a 200-day simple moving average of $39.71. The company has a quick ratio of 1.31, a current ratio of 2.34 and a debt-to-equity ratio of 0.07. Skechers U.S.A. has a 12 month low of $33.50 and a 12 month high of $54.45.
Institutional Trading of Skechers U.S.A.
Skechers U.S.A. Company Profile
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, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands.
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