Skechers U.S.A., Inc. (NYSE:SKX) is reporting third quarter financial results on Thursday 29th October 2020, after market close.
According to analysts surveyed by Thomson Reuters, SKX is expected to report 3Q20 income of $ 0.36 per share from revenue of $ 1217.26 million.
For the full year, analysts anticipate top line of $ 4483.58 million, while looking forward to income of $ 0.63 per share bottom line.
Previous Quarter Performance
Skechers U.S.A., Inc. recorded loss for the second quarter of $ 0.44 per share, from the revenue of $ 729.47 million. The quarterly revenues decreased 42.04 percent compared with the same quarter last year. Street analysts expected Skechers U.S.A., Inc. to report loss of $ 0.63 per share on revenue of $ 660.76 million for the second quarter. The bottom line results beat street analysts by $ 0.19 or 30.16 percent, at the same time, top line results outshined analysts by $ 68.71 million or 10.40 percent.
Stock Performance
Shares of Skechers U.S.A., Inc. traded low $ -2.53 or -7.04 percent on Wednesday, reaching $ 33.43 with volume of 2.33 million shares. Skechers U.S.A., Inc. has traded high as $ 35.18 and has cracked $ 33.37 on the downward trend
According to the previous trading day, closing price of $ 33.43, representing a 110.79 % increase from the 52 week low of $ 17.06 and a 19.19 % decrease over the 52 week high of $ 44.50.
The company has a market capital of $ 5.28 billion and is part of the Consumer Cyclical sector and Footwear & Accessories industry.
Recent Analyst recommendations
- On 14th October 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 33.00 target price.
Conference Call
Skechers U.S.A., Inc. will be hosting a conference call at 4:30 PM eastern time on 29th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.skechers.com
Skechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales.
