Skechers (SKX) Stock Plummeting in After-Hours Trading as Earnings Miss

On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, The Securities and Exchange Commission has divulged that Erlich Morton D, director of Skechers Usa Inc, had unloaded 500 shares at an average price of $112.26 in a transaction dated on June 18, 2015. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. The stock’s 50 day moving average is $45.15 and its 200 day moving average is $39.57. Market watchers had betted on revenues of around $876.5 million and earnings per diluted share of 55 cents – the company’s diluted EPS totaled 43 cents per share.

A number of other equities analysts have also weighed in on the stock. Vetr Inc. upgraded it to “Sell” rating and $102 target price in a July 8 report. Citigroup Inc. reissued a “buy” rating and set a $53.33 price target on shares of Skechers US in a research report on Thursday, July 30th. The stock has a market capitalization of $7.22 billion and a PE ratio of 33.96.

Skechers’ shares fell to a low of $30 after the bell.

Third quarter net sales increased to $856.2 million from $674.3 million in the year-ago quarter.

Earnings for the third quarter came in at 43 cents per share missing the expectations of 55 cents per share by analysts surveyed by Thomson Reuters. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $56.37.

Skechers U. SkechersU.S.A., Inc.is a designer and marketer of Skechers-branded lifestyle footwear for men, women and kids, and operation footwear for men and women under the Skechers GO brand name. The company sells its products through department stores and specialty retailers. As well as wholesale distribution, its footwear is available at its e commerce site and its own retail stores. As of February 15, 2013, the Company operated 116 concept stores, 118 factory outlet stores and 61 warehouse outlet stores in the United States, and 36 concept stores and 18 factory outlets internationally.