Looking for Consumer Discretionary Stocks? The Zacks Rank Can Help You Find Winners
It doesn't matter if you're a growth, value, income, or momentum-focused investor -- building a successful investment portfolio takes skill, research, and a little bit of luck.
Should You Buy #1 (Strong Buy)-Ranked Skechers (SKX) for Your Portfolio?
Skechers was upgraded to the Zacks Rank #1 list on October 17, 2023. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Founded in 1992 and headquartered in Manhattan Beach, California, Skechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children in the United States and overseas under the SKECHERS name, as well as under several uniquely branded names.
Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.03 to $3.39 per share. SKX boasts an average earnings surprise of 39.1%.
Analysts are expecting earnings to grow 42.4% for the current fiscal year, with revenue forecasted to rise 8.7%.
SKX has been moving higher over the past four weeks as well, up 5.1% compared to the S&P 500's loss of 1.6%.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Skechers could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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