We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Skechers (SKX) Dips More Than Broader Market: What You Should Know
Read MoreHide Full Article
The latest trading session saw Skechers (SKX - Free Report) ending at $64.33, denoting a -1.46% adjustment from its last day's close. This change lagged the S&P 500's 0.78% loss on the day. Meanwhile, the Dow experienced a drop of 1.29%, and the technology-dominated Nasdaq saw a decrease of 0.7%.
Coming into today, shares of the shoe company had lost 10.77% in the past month. In that same time, the Consumer Discretionary sector gained 0.81%, while the S&P 500 gained 2.14%.
The upcoming earnings release of Skechers will be of great interest to investors. The company's earnings report is expected on July 25, 2024. The company's upcoming EPS is projected at $0.92, signifying a 6.12% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $2.21 billion, up 10.04% from the year-ago period.
SKX's full-year Zacks Consensus Estimates are calling for earnings of $4.08 per share and revenue of $8.85 billion. These results would represent year-over-year changes of +16.91% and +10.57%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Skechers. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Skechers is currently a Zacks Rank #1 (Strong Buy).
With respect to valuation, Skechers is currently being traded at a Forward P/E ratio of 16. This represents no noticeable deviation compared to its industry's average Forward P/E of 16.
We can also see that SKX currently has a PEG ratio of 0.93. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Shoes and Retail Apparel industry had an average PEG ratio of 1.9.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Skechers (SKX) Dips More Than Broader Market: What You Should Know
The latest trading session saw Skechers (SKX - Free Report) ending at $64.33, denoting a -1.46% adjustment from its last day's close. This change lagged the S&P 500's 0.78% loss on the day. Meanwhile, the Dow experienced a drop of 1.29%, and the technology-dominated Nasdaq saw a decrease of 0.7%.
Coming into today, shares of the shoe company had lost 10.77% in the past month. In that same time, the Consumer Discretionary sector gained 0.81%, while the S&P 500 gained 2.14%.
The upcoming earnings release of Skechers will be of great interest to investors. The company's earnings report is expected on July 25, 2024. The company's upcoming EPS is projected at $0.92, signifying a 6.12% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $2.21 billion, up 10.04% from the year-ago period.
SKX's full-year Zacks Consensus Estimates are calling for earnings of $4.08 per share and revenue of $8.85 billion. These results would represent year-over-year changes of +16.91% and +10.57%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Skechers. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Skechers is currently a Zacks Rank #1 (Strong Buy).
With respect to valuation, Skechers is currently being traded at a Forward P/E ratio of 16. This represents no noticeable deviation compared to its industry's average Forward P/E of 16.
We can also see that SKX currently has a PEG ratio of 0.93. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Shoes and Retail Apparel industry had an average PEG ratio of 1.9.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.