Weak Fundamental Momentum Sinks Skechers U.S.A. Inc. – Marketing Sentinel
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Weak Fundamental Momentum Sinks Skechers U.S.A. Inc.

Skechers U.S.A. Inc. (NYSE:SKX) has a beta value of 1.47 and has seen 0.73 million shares traded in the last trading session. The company, currently valued at $7.75B, closed the last trade at $49.03 per share which meant it lost -$0.68 on the day or -1.37% during that session. The SKX stock price is -13.95% off its 52-week high price of $55.87 and 42.38% above the 52-week low of $28.25. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.9 million shares traded. The 3-month trading volume is 1.20 million shares.

The consensus among analysts is that Skechers U.S.A. Inc. (SKX) is a Buy stock at the moment, with a recommendation rating of 1.90. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 3 out of 13 have rated it as a Hold, with 10 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.76.

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Skechers U.S.A. Inc. (NYSE:SKX) trade information

Sporting -1.37% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Friday, 09/03/21 when the SKX stock price touched $49.03 or saw a rise of 4.94%. Year-to-date, Skechers U.S.A. Inc. shares have moved 36.42%, while the 5-day performance has seen it change -3.73%. Over the past 30 days, the shares of Skechers U.S.A. Inc. (NYSE:SKX) have changed -8.42%. Short interest in the company has seen 3.9 million shares shorted with days to cover at 3.21.

Wall Street analysts have a consensus price target for the stock at $64.55, which means that the shares’ value could jump 24.04% from current levels. The projected low price target is $49.00 while the price target rests at a high of $76.00. In that case, then, we find that the current price level is -55.01% off the targeted high while a plunge would see the stock lose 0.06% from current levels.

Skechers U.S.A. Inc. (SKX) estimates and forecasts

Figures show that Skechers U.S.A. Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained 30.96% over the past 6 months, with this year growth rate of 318.75%, compared to 18.40% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 43.40% and 70.80% for the next quarter. Revenue growth from the last financial year stood is estimated to be 36.50%.

7 analysts offering their estimates for the company have set an average revenue estimate of $1.65 billion for the current quarter. 7 have an estimated revenue figure of $1.53 billion for the next quarter concluding in Dec 2021. Year-ago sales stood $1.22 billion and $1.32 billion respectively for this quarter and the next, and analysts expect sales will grow by 35.20% for the current quarter and 15.40% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -18.70% over the past 5 years. Earnings growth for 2021 is a modest -76.30% while over the next 5 years, the company’s earnings are expected to increase by 71.55%.

SKX Dividends

Skechers U.S.A. Inc. is expected to release its next earnings report between October 27 and November 01 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Skechers U.S.A. Inc. (NYSE:SKX)’s Major holders

Insiders own 1.47% of the company shares, while shares held by institutions stand at 97.58% with a share float percentage of 99.04%. Investors are also buoyed by the number of investors in a company, with Skechers U.S.A. Inc. having a total of 421 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 20.51 million shares worth more than $855.45 million. As of Mar 30, 2021, FMR, LLC held 15.29% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 13.46 million shares as of Mar 30, 2021. The firm’s total holdings are worth over $561.31 million and represent 10.03% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are Fidelity Growth Company Fund and Vanguard Explorer Fund, Inc. As of Apr 29, 2021, the former fund manager holds about 6.15% shares in the company for having 8.26 million shares of worth $400.43 million while later fund manager owns 4.32 million shares of worth $149.0 million as of Jan 30, 2021, which makes it owner of about 3.22% of company’s outstanding stock.

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