Skechers (SKX) upgraded to Zacks Rank #2 Buy due to positive earnings outlook

From Nasdaq: 2024-12-25 12:00:11

Skechers (SKX) has been upgraded to a Zacks Rank #2 (Buy) due to an upward trend in earnings estimates, indicating a positive earnings outlook. The Zacks rating system focuses on changing earnings picture, with a strong correlation between earnings estimate revisions and stock price movements.

The Zacks Rank system classifies stocks based on earnings estimates into five groups, with Zacks Rank #1 stocks generating an average annual return of +25%. Skechers is expected to earn $4.24 per share for the fiscal year ending December 2024, with analysts steadily raising estimates over the past three months.

Skechers’ Zacks Rank #2 upgrade positions it in the top 20% of Zacks-covered stocks for estimate revisions, suggesting potential for the stock to move higher in the near term. Additionally, the Zacks Top 10 Stocks for 2025 are set to be released on January 2, with a history of strong performance compared to the S&P 500.



Read more at Nasdaq: All You Need to Know About Skechers (SKX) Rating Upgrade to Buy