Skechers Usa is a shoe company located in California, United States, which is part of the Consumer Cyclical sector, and is traded under the ticker SKX on the NYSE exchange.
Skechers Usa stock last closed at $62.60, up 1.85% from the previous day, and has increased 34.62% in one year. It has overperformed other stocks in the Footwear & Accessories industry by 0.11 percentage points. Skechers Usa stock is currently +32.26% from its 52-week low of $47.33, and -16.63% from its 52-week high of $75.09.
As of Nov 1, 2024, there are 150.97M shares of SKX outstanding. The market capitalization of SKX is $9.45B. In the past 24 hours, 1.98M SKX shares were traded.
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After you have chosen the best place to buy Skechers Usa stock, it's absolutely critical to evaluate their stock before you buy, so you can understand the risk and opportunity.
WallStreetZen was built to help part-time investors do more in-depth fundamental analysis in less time.
You can view all of the due diligence checks on SKX's stock page.
Investors use many financial metrics, analyses, models, and charts to gauge SKX's intrinsic value.
Using relative valuations metrics:
You can access more valuation analysis on SKX's stock here.
Out of 9 Equities analysts who give ratings on SKX, the consensus analyst rating on SKX is a Strong Buy
Please note that analyst forecasts are not stock recommendations, nor are they investment advice.
JESALYN Wong, a top 50% analyst from Evercore ISI Group maintains SKX with a buy rating and raises their SKX price target from $68.00 to $72.00, on Jul 26, 2024.
Tom Nikic, a top 15% analyst from Wedbush maintains SKX with a buy rating and raises their SKX price target from $76.00 to $79.00, on Jul 26, 2024.
Jim Duffy, a top 5% analyst from Stifel Nicolaus maintains SKX with a strong buy rating and raises their SKX price target from $81.00 to $83.00, on Jul 26, 2024.
Stifel Nicolaus's Jim Duffy raised their price target on Skechers Usa (NYSE: SKX) by 2.5% from $81 to $83 on 2024/07/26. The analyst maintained their Strong Buy rating on the stock.
Duffy's price target hike followed Skechers Usa's 2024/07/25-dated Q2 2024 print.
The analyst told investors that management increased its FY 2024 EPS and revenue at the midpoint by $0.11 and $150M, respectively.
Further, Daffy said they see no changes to the long-term argument for increasing market share and consider the effects on Q2 revenue to be "unrelated to brand power."
For Q2 2024, Skechers Usa reported:
Management guided:
For Q3 2024:
For FY 2024:
CEO Robert Greenberg commented: “This quarter marked the 25th anniversary of our IPO.
“As we celebrated this event, we also achieved record Q2 sales and further solidified our position as the third largest athletic footwear company in the world by continuing to deliver comfortable and innovative footwear worldwide.
“I couldn’t be prouder of the accomplishments of the entire Skechers organization and appreciative of our strong partnerships with our customers and a growing roster of elite ambassadors, such as the recently signed Philadelphia 76ers basketball star Joel Embiid, as well as collaborations with distinguished brands such as John Deere.
“Team Skechers now includes numerous athletes competing on global stages, including Golden Boot winner, Euro Cup finalist and Captain of the England football team, Harry Kane; recently announced Skechers ambassador and 2022-2023 NBA most valuable player Joel Embiid, who is playing for the United States; British golfer Matt Fitzpatrick; Canadian golfer Brooke Henderson; Spanish race walker Diego Garcia and newly signed American beach volleyball players Andy Benesh and Miles Partain, who will be playing in Skechers branded uniforms.
“This diverse team of world-class athletes and celebrities, including Martha Stewart and Snoop Dogg, drive awareness and purchase intent for Skechers.
“Our first commercial featuring Harry Kane aired during Q2, and we recently completed several new campaigns featuring him alongside former UK footballer and Skechers ambassador Jamie Redknapp and superstar Snoop Dogg, who will be a broadcast commentator in Paris. “Additionally, our football footwear launched globally this month, Skechers x John Deere is launching next month, and basketball footwear will be released globally in 2024/08.
“We are committed to strategically delivering comfort footwear and apparel for all walks of life, supporting our vast offering with targeted marketing, and building our in-store presence globally.”
Andrew Bauch, a top 25% analyst from Wells Fargo initiates coverage on SKX with a strong buy rating and announces their SKX price target of $83.00, on Jun 12, 2024.
You can dive deeper into what analysts are projecting on the Skechers Usa stock forecast page.
Last year, SKX earnings were $627.33M. During the last 5 year, SKX's earnings have grown by 13.52% per year. This was slower than the Footwear & Accessories industry average of 27.99%.
Last year, SKX revenue was $8.72B. During the past 5 year, SKX's revenue has increased by 11.89% per year. This was slower than the Footwear & Accessories industry average of 18.56%.
You can analyze SKX's earnings and revenue performance here.
In the past 12 months, insiders at SKX have sold more shares than they have bought.
Michael Greenberg, President of SKX, was the latest SKX insider to sell. They sold $29,488,938.00 worth of SKX shares on Aug 27, 2024.
Learn more about who owns SKX shares here.
No, Skechers Usa doesn't provide an income stream by paying out dividends.
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