The shoe company’s stock dropped 42% in the past year, while Nike (NKE) stock has held steady and Adidas (ADDDF) stock has nearly doubled. Also, On May 31, 2016, Mark A Nason (Executive Vice President) sold 9,055 shares at $30.00 per share price. Over the one year trading period, the stock has a high price of $54.53 and its low price is recorded at $24.56. On Jul 5, 2016, Jeffrey Greenberg (director) sold 10,000 shares at $30.15 per share price. (NYSE:SKX) ended up at $32.18. The firm has a market cap of $3.94 billion and a P/E ratio of 14.20.
Advertisement
The company said that its Q2 net income totaled $74.1 million, or 48 cents per diluted share, a 7 percent decline from the comparable period when net income totaled $79.8 million, or 52 cents per diluted share. The company’s price sits 6.11% above from its 50-day moving average of $30.31 and 3.36% above from the stock’s 200-day moving average of $30.25. The company earned $877.80 million during the quarter, compared to analyst estimates of $892.06 million. During the same period in the prior year, the company earned $0.52 EPS. On average, equities analysts forecast that Skechers USA will post $2.07 EPS for the current fiscal year. The company has experienced volume of 4.60M shares while on average the company has a capacity of trading 2.28M shares.
After the market close Thursday, the Manhattan Beach, Calif.-based brand posted earnings that fell below analysts’ already-muted expectations. The disclosure for this sale can be found here. Morgan Stanley reiterated a “buy” rating on shares of Skechers USA in a report on Monday, June 6th. Equity analyst Morgan Stanley both upgraded the stock and raised the price target on July 21 boosting the price target from $9.00 to $32.00 and setting the rating at “Neutral” which had previously been “Underweight”.
Unilever (NYSE:UN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday. OTR Global downgraded shares of Skechers USA to a “positive” rating in a report on Thursday, April 7th.
We rate SKECHERS U S A INC as a Buy with a ratings score of B. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover.
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name.
Advertisement
Skechers COO and CFO David Weinberg said the pull forward of shipment from the firm’s domestic wholesale business from April into March negatively impacted sales – significantly reducing shipments in April and resulting in a sales decrease of 5.4 percent in the second quarter.
