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Skechers (SKX) Advances While Market Declines: Some Information for Investors
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In the latest market close, Skechers (SKX - Free Report) reached $67.90, with a +1.77% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.88% for the day. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq lost 1.95%.
Coming into today, shares of the shoe company had lost 10.44% in the past month. In that same time, the Consumer Discretionary sector lost 2.04%, while the S&P 500 gained 5.11%.
Investors will be eagerly watching for the performance of Skechers in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 25, 2024. The company is predicted to post an EPS of $0.92, indicating a 6.12% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.21 billion, indicating a 10.04% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.08 per share and a revenue of $8.85 billion, representing changes of +16.91% and +10.57%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Skechers. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.23% rise in the Zacks Consensus EPS estimate. At present, Skechers boasts a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Skechers is presently being traded at a Forward P/E ratio of 16.35. This denotes a premium relative to the industry's average Forward P/E of 15.2.
We can additionally observe that SKX currently boasts a PEG ratio of 0.95. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Shoes and Retail Apparel was holding an average PEG ratio of 1.86 at yesterday's closing price.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 101, placing it within the top 41% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Skechers (SKX) Advances While Market Declines: Some Information for Investors
In the latest market close, Skechers (SKX - Free Report) reached $67.90, with a +1.77% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.88% for the day. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq lost 1.95%.
Coming into today, shares of the shoe company had lost 10.44% in the past month. In that same time, the Consumer Discretionary sector lost 2.04%, while the S&P 500 gained 5.11%.
Investors will be eagerly watching for the performance of Skechers in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 25, 2024. The company is predicted to post an EPS of $0.92, indicating a 6.12% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.21 billion, indicating a 10.04% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.08 per share and a revenue of $8.85 billion, representing changes of +16.91% and +10.57%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Skechers. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.23% rise in the Zacks Consensus EPS estimate. At present, Skechers boasts a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Skechers is presently being traded at a Forward P/E ratio of 16.35. This denotes a premium relative to the industry's average Forward P/E of 15.2.
We can additionally observe that SKX currently boasts a PEG ratio of 0.95. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Shoes and Retail Apparel was holding an average PEG ratio of 1.86 at yesterday's closing price.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 101, placing it within the top 41% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.