Skechers (SKX) closed at $76.73 in the latest trading session, marking a -0.07% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.47%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.51%.
Shares of the shoe company witnessed a gain of 14.19% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 2.51% and the S&P 500's gain of 1.67%.
Market participants will be closely following the financial results of Skechers in its upcoming release. The company plans to announce its earnings on February 6, 2025. In that report, analysts expect Skechers to post earnings of $0.73 per share. This would mark year-over-year growth of 30.36%. Our most recent consensus estimate is calling for quarterly revenue of $2.21 billion, up 12.73% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Skechers. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 0.23% downward. Right now, Skechers possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Skechers is at present trading with a Forward P/E ratio of 15.94. This signifies a premium in comparison to the average Forward P/E of 15.12 for its industry.
One should further note that SKX currently holds a PEG ratio of 0.94. 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 industry currently had an average PEG ratio of 1.79 as of yesterday's close.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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