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Skechers (SKX) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest market close, Skechers (SKX - Free Report) reached $68.48, with a -1.08% movement compared to the previous day. This change lagged the S&P 500's daily loss of 0.13%. Meanwhile, the Dow experienced a rise of 0.33%, and the technology-dominated Nasdaq saw a decrease of 0.39%.
Shares of the shoe company witnessed a gain of 1.08% over the previous month, trailing the performance of the Consumer Discretionary sector with its gain of 4.45% and the S&P 500's gain of 2.43%.
Market participants will be closely following the financial results of Skechers in its upcoming release. The company plans to announce its earnings on October 24, 2024. In that report, analysts expect Skechers to post earnings of $1.15 per share. This would mark year-over-year growth of 23.66%. Alongside, our most recent consensus estimate is anticipating revenue of $2.32 billion, indicating a 14.73% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.15 per share and a revenue of $8.94 billion, signifying shifts of +18.91% and +11.79%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Skechers. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.24% downward. Currently, Skechers is carrying a Zacks Rank of #4 (Sell).
From a valuation perspective, Skechers is currently exchanging hands at a Forward P/E ratio of 16.7. For comparison, its industry has an average Forward P/E of 16.7, which means Skechers is trading at no noticeable deviation to the group.
We can also see that SKX currently has a PEG ratio of 0.99. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Shoes and Retail Apparel was holding an average PEG ratio of 1.91 at yesterday's closing price.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 100, finds itself in the top 40% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest market close, Skechers (SKX - Free Report) reached $68.48, with a -1.08% movement compared to the previous day. This change lagged the S&P 500's daily loss of 0.13%. Meanwhile, the Dow experienced a rise of 0.33%, and the technology-dominated Nasdaq saw a decrease of 0.39%.
Shares of the shoe company witnessed a gain of 1.08% over the previous month, trailing the performance of the Consumer Discretionary sector with its gain of 4.45% and the S&P 500's gain of 2.43%.
Market participants will be closely following the financial results of Skechers in its upcoming release. The company plans to announce its earnings on October 24, 2024. In that report, analysts expect Skechers to post earnings of $1.15 per share. This would mark year-over-year growth of 23.66%. Alongside, our most recent consensus estimate is anticipating revenue of $2.32 billion, indicating a 14.73% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.15 per share and a revenue of $8.94 billion, signifying shifts of +18.91% and +11.79%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Skechers. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.24% downward. Currently, Skechers is carrying a Zacks Rank of #4 (Sell).
From a valuation perspective, Skechers is currently exchanging hands at a Forward P/E ratio of 16.7. For comparison, its industry has an average Forward P/E of 16.7, which means Skechers is trading at no noticeable deviation to the group.
We can also see that SKX currently has a PEG ratio of 0.99. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Shoes and Retail Apparel was holding an average PEG ratio of 1.91 at yesterday's closing price.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 100, finds itself in the top 40% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.