Skyline Champion Co. (NYSE:SKY) Forecasted to Earn Q2 2023 Earnings of $1.50 Per Share

Skyline Champion Co. (NYSE:SKYGet Rating) – Stock analysts at Wedbush raised their Q2 2023 EPS estimates for shares of Skyline Champion in a report released on Wednesday, August 3rd. Wedbush analyst J. Mccanless now anticipates that the company will earn $1.50 per share for the quarter, up from their prior forecast of $1.34. Wedbush has a “Outperform” rating and a $70.00 price target on the stock. The consensus estimate for Skyline Champion’s current full-year earnings is $5.10 per share. Wedbush also issued estimates for Skyline Champion’s Q3 2023 earnings at $1.04 EPS, Q4 2023 earnings at $1.05 EPS, Q1 2024 earnings at $1.18 EPS, Q2 2024 earnings at $1.07 EPS, Q3 2024 earnings at $1.02 EPS and Q4 2024 earnings at $1.21 EPS.

Several other analysts have also recently commented on SKY. Royal Bank of Canada raised their target price on shares of Skyline Champion from $58.00 to $72.00 in a research note on Thursday. Barclays raised their target price on shares of Skyline Champion from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Craig Hallum reduced their target price on shares of Skyline Champion from $80.00 to $71.00 in a research note on Wednesday, May 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.75.

Skyline Champion Stock Up 2.6 %

Shares of NYSE:SKY opened at $66.05 on Friday. The stock has a market cap of $3.75 billion, a P/E ratio of 11.75 and a beta of 1.98. The firm has a fifty day moving average price of $53.86 and a 200 day moving average price of $58.36. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.23 and a quick ratio of 1.55. Skyline Champion has a 1-year low of $43.04 and a 1-year high of $85.92.

Skyline Champion (NYSE:SKYGet Rating) last issued its quarterly earnings results on Monday, May 23rd. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.52. The firm had revenue of $638.12 million during the quarter, compared to analysts’ expectations of $561.80 million. Skyline Champion had a net margin of 13.30% and a return on equity of 43.52%. Skyline Champion’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS.

Insider Activity

In other news, Director Erin Mulligan Nelson sold 6,508 shares of the stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $52.83, for a total value of $343,817.64. Following the completion of the transaction, the director now owns 1,750 shares in the company, valued at approximately $92,452.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Skyline Champion

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in shares of Skyline Champion by 6.1% in the 1st quarter. Wellington Management Group LLP now owns 5,864,485 shares of the company’s stock valued at $321,842,000 after purchasing an additional 335,974 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Skyline Champion by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 5,490,446 shares of the company’s stock worth $301,316,000 after purchasing an additional 167,921 shares in the last quarter. American Century Companies Inc. raised its position in shares of Skyline Champion by 46.7% during the 1st quarter. American Century Companies Inc. now owns 1,829,025 shares of the company’s stock worth $100,377,000 after purchasing an additional 582,173 shares during the last quarter. State Street Corp lifted its stake in Skyline Champion by 8.6% in the 1st quarter. State Street Corp now owns 1,466,505 shares of the company’s stock valued at $80,482,000 after buying an additional 116,078 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Skyline Champion by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 890,410 shares of the company’s stock valued at $70,324,000 after buying an additional 11,939 shares during the last quarter. Hedge funds and other institutional investors own 98.48% of the company’s stock.

About Skyline Champion

(Get Rating)

Skyline Champion Corporation produces and sells factory-built housing in North America. The company offers manufactured and modular homes, park models RVs, accessory dwelling units, and modular buildings for the multi-family and hospitality sectors. It builds homes under the Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Atlantic Homes, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes brands in the United States; and Moduline and SRI Homes brand names in western Canada.

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Earnings History and Estimates for Skyline Champion (NYSE:SKY)

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