Skyline (SKY) closed at $50.91 in the latest trading session, marking a -0.18% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.77%. Elsewhere, the Dow lost 2.82%, while the tech-heavy Nasdaq lost 0.83%.
Heading into today, shares of the manufactured and modular housing maker had lost 12.31% over the past month, lagging the Construction sector's loss of 5.56% and the S&P 500's loss of 1.35% in that time.
Skyline will be looking to display strength as it nears its next earnings release. In that report, analysts expect Skyline to post earnings of $0.99 per share. This would mark year-over-year growth of 62.3%. Meanwhile, our latest consensus estimate is calling for revenue of $565 million, up 26.21% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Skyline. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 past month, the Zacks Consensus EPS estimate remained stagnant. Skyline is currently a Zacks Rank #3 (Hold).
Investors should also note Skyline's current valuation metrics, including its Forward P/E ratio of 12.13. This valuation marks a premium compared to its industry's average Forward P/E of 5.59.
The Building Products - Mobile Homes and RV Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% of all 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.
To follow SKY in the coming trading sessions, be sure to utilize Zacks.com.
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