Wall Street analysts forecast that Skechers (SKX) will report quarterly earnings of $0.52 per share in its upcoming release, pointing to a year-over-year increase of 8.3%. It is anticipated that revenues will amount to $2.01 billion, exhibiting an increase of 7.2% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone a downward revision of 1.9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain Skechers metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts expect 'Net Sales- Direct-to-consumer' to come in at $949.78 million. The estimate indicates a change of +14.5% from the prior-year quarter.
The consensus among analysts is that 'Net sales- Domestic- Wholesale' will reach $1.06 billion. The estimate indicates a change of +190.5% from the prior-year quarter.
Analysts predict that the 'Geographic Revenue- Americas' will reach $953.20 million. The estimate indicates a year-over-year change of +34.1%.
View all Key Company Metrics for Skechers here>>>
Shares of Skechers have experienced a change of +0.9% in the past month compared to the +2.5% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), SKX is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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