32.95 +0.32 (0.98%)
Pre-Market: 8:00AM EDT
|Bid||32.30 x 2200|
|Ask||32.76 x 800|
|Day's Range||31.96 - 32.83|
|52 Week Range||23.90 - 43.08|
|PE Ratio (TTM)||28.64|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Skechers’s (SKX) first-quarter 2018 results, which the company posted on April 19, disappointed and sent its stock down by a massive 32% over the next two trading days, erasing its year-to-date gains. The company’s weak second-quarter guidance was behind the stock decline. Skechers projected EPS of $0.38–$0.43, far below analysts’ expectation of $0.55. This year, Skechers has fallen 18%, while competitors Under Armour (UAA), Columbia Sportswear (COLM), Lululemon Athletica (LULU), and Nike (NKE) have surged 49%, 29%, 62%, and 24%, respectively.
The leading walking-footwear specialist gears up for a big quarterly report. The stock took a 27% hit the last time it offered a financial update.
It has cited shipments being shifted to H2 2018 for some important international distributors and domestic wholesale accounts and ongoing weakness in the Middle East as key reasons behind its bleak outlook. Skechers’s selling, general, and administrative expenses have increased continuously over the past several quarters due to its ongoing investments in its international wholesale and retail businesses, which could hurt the company’s margins. Despite Skechers’s selling expenses rising 14.4% and its general and administrative expenses rising 24% in the first quarter, its operating margin improved by 30 basis points to 11.9% as its operating income rose 20% to $149 million.
As discussed, Skechers (SKX) is slated to report its second-quarter 2018 results on July 19. The company expects its revenue to grow 9.2%–11.6% YoY (year-over-year) to $1.120 billion–$1.145 billion, driven by ongoing strength in the company’s international wholesale business, its largest distribution channel.
Skechers (SKX) is slated to release its Q2 2018 results after the market closes on July 19. Wall Street expects Skechers’s EPS to rise 8% YoY (year-over-year) to $0.41, and its sales to rise 10.1% YoY to $1.130 billion. While the company has not missed top-line forecasts for the last six quarters, it has missed bottom-line expectations in two of these six quarters. In the second and third parts of this four-part series, we’ll look at the company’s recent financial performance and expectations for the second quarter.
Trendy footwear firm Skechers U.S.A., Inc. (NYSE:SKX) will join the earnings parade on Wall Street this week. SKX stock is still down after the company issued disappointing guidance in its last quarterly report. In other words, the issue appears to be with distributor weakness, not with demand of Skechers shoes.
Skechers' (SKX) second quarter projection includes an expected shift in shipments from the second quarter to the later part of the year for quite a few important international distributors and domestic accounts.
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Skechers, Tile Shop Holdings, and Intuitive Surgical have all seen significant price changes so far this year. Each one could gain -- or lose -- big when the companies issue their financial reports later this month.
One of my favorite stocks for July 2018 is Skechers USA (NYSE:SKX). The athletic apparel company has seemingly found a niche in the crowded athletic retail world by focusing on price and comfort over coolness and quality. Skechers has been dominating that niche both domestically and globally for several quarters now, and the company is actually among the fastest growers in the whole athletic apparel space.
On June 25, Foot Locker (FL) was rated as a “buy” by 13 (57.0%) of the 23 analysts covering the stock, and eight (35.0%) rated it as a “hold.” For Skechers (SKX), 11 (92.0%) of the 12 analysts rated the stock as a “buy,” and the remaining analyst (8.0%) rated it as a “hold.”
On June 25, Deckers Outdoor (DECK) traded at a 12-month forward PE (price-to-earnings) multiple of 18.0x, which is higher than the valuation multiples of the other footwear retailers. In contrast, Foot Locker (FL), Skechers (SKX), and DSW (DSW) are trading at 12-month forward PE multiples of 11.4x, 12.8x, and 15.5x, respectively.
Wall Street expects 10.0% growth in Foot Locker’s (FL) adjusted EPS to $4.52 for fiscal 2018. The company has guided its EPS to grow in double digits for fiscal 2018, driven by sales improvements and a lowered share count in the latter half of the year.
On June 25, the stock prices for Deckers Outdoor (DECK), DSW (DSW), and Foot Locker (FL) rose 44.6%, 20.2%, and 13.4%, respectively, on a YTD (year-to-date) basis. Skechers’ underwhelming second-quarter guidance left investors disappointed, and the stock witnessed a massive sell-off. The benchmark index performance has been subdued as trade war fears between the United States and major trade partners such as China refuse to die down.
As of June 15, Deckers Outdoor (DECK) was trading at a 12-month forward PE ratio of 18.5x. Since its fiscal fourth-quarter results on May 24, its valuation multiple has increased 8.4%.
Jim Cramer zooms through his take on callers' favorite stocks, including a sneaker play that's losing steam.
In the value stocks versus growth stocks tug-of-war, growth stocks have been the unequivocal winner for the past several years. Many are calling for a reversal into value stocks over the next several years. Higher interest rates put pressure on equity valuations and may cause a big shift in money from big multiple growth stocks to low multiple value stocks.