Skechers USA Inc. (SKX), engaged in the designing, developing and marketing of footwear, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SKX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames, suggesting that Skechers could be a solid choice for investors.
Current Quarter Estimates for SKX
In the past 30 days, 1 estimate have gone higher for Skechers with 1 downward revision. The consensus estimate trend has been pretty favorable, with estimates increasing from 36 cents per share 30 days ago to 41 cents today, a move of 13.9%.
Current Year Estimates for SKX
Meanwhile, Skechers’ current year figures are also looking quite promising with 3 estimates moving higher in the past month. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.81 per share 30 days ago to $2.06 today, a move of 13.8%.
Bottom Line
The stock has also started to move higher lately, adding 10.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment