Skyline (SKY) got here out with quarterly earnings of $0.61 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.14 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 69.44%. 1 / 4 in the past, it was anticipated that this manufactured and modular housing maker would put up earnings of $0.26 per share when it truly produced earnings of $0.38, delivering a shock of 46.15%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 4 occasions.
Skyline, which belongs to the Zacks Constructing Merchandise – Cellular Properties and RV Builders trade, posted revenues of $447.65 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 17.54%. This compares to year-ago revenues of $301.15 million. The corporate has topped consensus income estimates 4 occasions during the last 4 quarters.
The sustainability of the inventory’s speedy worth motion based mostly on the recently-released numbers and future earnings expectations will largely depend upon administration’s commentary on the earnings name.
Skyline shares have added about 37.2% because the starting of the yr versus the S&P 500’s acquire of 11.7%.
What’s Subsequent for Skyline?
Whereas Skyline has outperformed the market to this point this yr, the query that involves traders’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist traders tackle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified recently.
Empirical analysis reveals a powerful correlation between near-term inventory actions and developments in earnings estimate revisions. Buyers can observe such revisions by themselves or depend on a tried-and-tested score instrument just like the Zacks Rank, which has a powerful observe file of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions development for Skyline was combined. Whereas the magnitude and route of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in step with the market within the close to future. You possibly can see the whole record of right this moment’s Zacks #1 Rank (Sturdy Purchase) shares right here.
It will likely be attention-grabbing to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.36 on $388.05 million in revenues for the approaching quarter and $1.66 on $1.65 billion in revenues for the present fiscal yr.
Buyers ought to be conscious of the truth that the outlook for the trade can have a fabric influence on the efficiency of the inventory as effectively. When it comes to the Zacks Business Rank, Constructing Merchandise – Cellular Properties and RV Builders is at the moment within the high 39% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.