Skechers USA Earning Estimates Cut

Published on: 05 Jul, 2017

Skechers USA (NYSE: SKX) got its anticipated earnings per share cut by Wedbrush Research analysts for the second quarter of 2017. In its report to investors and clients, the research company stated that the American textile maker will earn about $0.45 per share. It is down from the previously estimated $0.46 for the quarter. The company presently has “Neutral” rating. The stock's target price is $25.00. According to Wedbrush calculations, the 2017 Financial Year for Skechers USA comes to $1.68 EPS.

Market and company results

Skechers USA earns revenues from designing and marketing branded lifestyle footwear for women, children and men. The brand name is Skechers GO and includes performance footwear as well. The American company operates via three segments: retail sales, domestic wholesale sales and international wholesale sales. The category of retail sales is inclusive of eCommerce sales.

Skechers USA's last published its earnings results on April 20, 2017. The textile manufacturer reported earnings of $0.60 for every share for this quarter. This exceeded the $0.55 consensus estimate by $0.05. The company had clocked $1.07 billion in revenues for the current quarter, as compared to $1.06 billion as per the consensus estimate. The American company enjoys a 6.83 percent net margin. Return on equity is calculated to be 15.10 percent. The quarterly review of the company went up by 9.6 percent when compared to 2016 identical quarter. Skechers USA posted per share earnings of $0.63 during the identical period in 2016.

Neutral, hold, and sell

A number of other analysts expressed more or less same views. The “neutral” rating is reiterated by B. Riley. It subsequently issued a price target of $28.00 on Skechers USA shares in its report on February 10. Target price of the company was brought down by Citogroup Inc. from $30.00 to about $25.00. The bank also gave the stock a positive rating in its report. In contrast, Skechers USA shares were downgraded by Vetr from its previous “buy” to “hold”. It set the stock's target price at about $27.28.

Zacks Investment Research also downgraded the Skechers USA shares from “hold” to “sell” rating in its report on April 24. The company presently has a “hold” consensus rating after two Zacks analysts have given the stock a sell rating, six analysts a buy rating and six has advised a hold rating. The price target as per consensus is $28.86.

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Danny Abramov

Email: danny@financialinsiders.com

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