Skyline (SKY) closed at $50.91 last trading session, marking a -0.18% move from the previous day. That change was narrower than the S&P 500’s 2.77% daily loss. Elsewhere, the Dow lost 2.82%, while the tech-heavy Nasdaq lost 0.83%.
Going into today, shares of the prefab and modular home maker had lost 12.31% over the past month, lagging the construction and construction sector’s 5.56% loss. loss of 1.35% of the S&P 500 during this period.
Skyline will be looking to show strength ahead of its next earnings release. In this report, analysts expect Skyline to post earnings of $0.99 per share. This would mark a year-over-year growth of 62.3%. Meanwhile, our latest consensus estimate calls for revenue of $565 million, up 26.21% from the prior year quarter.
It’s also important to note recent changes to analyst estimates for Skyline. These revisions generally reflect the latest short-term trading trends, which may change frequently. With this in mind, we can view positive estimate revisions as a sign of optimism about the company’s business prospects.
Research indicates that these revisions to estimates are directly correlated to near-term stock price dynamics. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes into account these estimation changes and provides a clear and actionable scoring model.
The Zacks ranking system ranges from #1 (strong buy) to #5 (strong sell). It has a remarkable, externally audited track record of success, with No. 1 stocks delivering an average annual return of +25% since 1988. Over the past month, Zacks Consensus’ EPS estimate has 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 to the sector’s average Forward P/E of 5.59.
The building products industry – mobile home and RV builders is part of the construction sector. This group has a Zacks industry ranking of 104, which places it in the top 42% of over 250 industries.
The Zacks Industry Ranking assesses the strength of our industry groups by measuring the average Zacks Ranking of individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
To follow SKY in upcoming trading sessions, be sure to use Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.