Wedbush Research Analysts Reduce Earnings Estimates for SKY

Skyline Champion Co. (NYSE:SKY - Free Report) - Stock analysts at Wedbush dropped their FY2027 EPS estimates for shares of Skyline Champion in a note issued to investors on Tuesday, May 27th. Wedbush analyst J. Mccanless now anticipates that the company will post earnings per share of $3.89 for the year, down from their prior estimate of $4.18. The consensus estimate for Skyline Champion's current full-year earnings is $3.63 per share.

Skyline Champion (NYSE:SKY - Get Free Report) last posted its earnings results on Tuesday, May 27th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.10). Skyline Champion had a net margin of 6.80% and a return on equity of 13.80%. The company had revenue of $593.87 million for the quarter, compared to the consensus estimate of $595.42 million. During the same quarter last year, the business earned $0.62 earnings per share. Skyline Champion's quarterly revenue was up .7% on a year-over-year basis.

SKY has been the topic of a number of other reports. Barclays cut their price objective on Skyline Champion from $97.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Royal Bank of Canada dropped their price target on shares of Skyline Champion from $96.00 to $82.00 and set a "sector perform" rating on the stock in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $80.60.

Skyline Champion Stock Performance

Shares of SKY stock traded down $0.19 during trading on Friday, reaching $65.36. The company had a trading volume of 1,554,128 shares, compared to its average volume of 570,770. The firm's 50 day simple moving average is $85.41 and its two-hundred day simple moving average is $93.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.59 and a quick ratio of 1.74. Skyline Champion has a one year low of $64.45 and a one year high of $116.49. The company has a market capitalization of $3.74 billion, a PE ratio of 23.01 and a beta of 1.37.

Hedge Funds Weigh In On Skyline Champion

A number of institutional investors have recently made changes to their positions in SKY. Barclays PLC increased its position in Skyline Champion by 136.9% in the 3rd quarter. Barclays PLC now owns 111,140 shares of the company's stock worth $10,543,000 after buying an additional 64,229 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Skyline Champion during the fourth quarter worth $210,000. KBC Group NV increased its position in Skyline Champion by 53.9% during the fourth quarter. KBC Group NV now owns 2,288 shares of the company's stock worth $202,000 after acquiring an additional 801 shares during the period. Jennison Associates LLC bought a new position in Skyline Champion during the fourth quarter worth $659,000. Finally, Guidance Capital Inc. bought a new position in Skyline Champion during the fourth quarter worth $459,000.

Skyline Champion declared that its board has initiated a stock repurchase program on Friday, May 30th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

About Skyline Champion

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.