Skechers U.S.A. (NYSE:SKX – Get Free Report) announced its quarterly earnings results on Thursday. The textile maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11, Briefing.com reports. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Skechers U.S.A. had a return on equity of 13.04% and a net margin of 6.90%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS.
Skechers U.S.A. Stock Performance
Skechers U.S.A. stock opened at $59.21 on Friday. Skechers U.S.A. has a twelve month low of $45.58 and a twelve month high of $75.09. The company has a quick ratio of 1.33, a current ratio of 2.06 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $65.98 and its 200 day moving average is $66.11. The company has a market capitalization of $9.03 billion, a P/E ratio of 15.58, a PEG ratio of 0.89 and a beta of 1.22.
Skechers U.S.A. announced that its board has authorized a stock repurchase program on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the textile maker to reacquire up to 10.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Wall Street Analysts Forecast Growth
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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.
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