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Increased Earnings Estimates Seen for Skullcandy (SKUL): Can It Move Higher?

Zacks Equity Research

Skullcandy, Inc. (SKUL), the stock in the Audio/Video Production industry 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 SKUL’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Skullcandy could be a solid choice for investors.

Current Quarter Estimates for SKUL

In the past 30 days, 1 estimate has gone higher for Skullcandy. The trend has been pretty favorable too, with estimates of loss narrowing from 18 cents a share 30 days ago to a loss of 17 cents today, a move of 5.6%.
Current Year Estimates for SKUL

Meanwhile, Skullcandy’s current year figures are also looking quite promising, with 4 estimates moving higher in the past month. The consensus estimate trend has also seen a boost for this time frame, increasing from 9 cents per share 30 days ago to 13 cents per share today, an increase of 44.4%.

Bottom Line

The stock has also started to move higher lately, adding 13.6% 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 #3 (Hold) stock to profit in the near future.

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