Skyline Co. (SKY) Forecasted to Earn FY2019 Earnings of $0.75 Per Share
Skyline Co. (NYSEAMERICAN:SKY) – Analysts at SunTrust Banks boosted their FY2019 earnings per share (EPS) estimates for shares of Skyline in a research note issued to investors on Monday, February 11th. SunTrust Banks analyst R. Seth now expects that the construction company will post earnings per share of $0.75 for the year, up from their prior forecast of $0.67. SunTrust Banks has a “Buy” rating and a $22.00 price target on the stock. SunTrust Banks also issued estimates for Skyline’s Q4 2019 earnings at $0.25 EPS, Q1 2020 earnings at $0.32 EPS, Q2 2020 earnings at $0.30 EPS, Q3 2020 earnings at $0.34 EPS, FY2020 earnings at $1.28 EPS, FY2022 earnings at $1.74 EPS and FY2023 earnings at $1.95 EPS.
A number of other research firms have also recently commented on SKY. Royal Bank of Canada set a $34.00 price objective on shares of Skyline and gave the company a “buy” rating in a research report on Wednesday, November 7th. Zacks Investment Research cut shares of Skyline from a “hold” rating to a “sell” rating in a research report on Thursday, November 15th. Credit Suisse Group began coverage on shares of Skyline in a research report on Thursday, November 29th. They issued a “neutral” rating and a $25.00 price objective for the company. Craig Hallum restated a “buy” rating and issued a $30.00 price objective (down previously from $37.00) on shares of Skyline in a research report on Thursday, February 7th. Finally, Barclays set a $23.00 target price on shares of Skyline and gave the stock a “buy” rating in a research note on Wednesday, December 12th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $27.43.
In related news, insider Bain Capital Credit Member, Ll sold 1,750,000 shares of the company’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $21.80, for a total value of $38,150,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Mak Capital One Llc sold 1,000,000 shares of the company’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $21.80, for a total transaction of $21,800,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,012,500 shares of company stock valued at $65,672,500.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Skyline during the 4th quarter worth about $28,000. Great West Life Assurance Co. Can acquired a new position in shares of Skyline during the 4th quarter worth about $36,000. Victory Capital Management Inc. acquired a new position in shares of Skyline during the 3rd quarter worth about $104,000. Legal & General Group Plc boosted its stake in shares of Skyline by 317.7% during the 3rd quarter. Legal & General Group Plc now owns 4,307 shares of the construction company’s stock worth $123,000 after buying an additional 3,276 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of Skyline by 155.0% during the 3rd quarter. Strs Ohio now owns 5,100 shares of the construction company’s stock worth $145,000 after buying an additional 3,100 shares during the last quarter.
Skyline Company Profile
Skyline Corporation designs, produces, and markets manufactured housing, modular housing, and park models to independent dealers and manufactured housing communities in the United States and Canada. The company's manufactured housing models include two to four bedrooms, kitchen, dining area, living room, one or two bathrooms, kitchen appliances, and central heating and cooling products, as well as exterior dormers and windows, interior or exterior accent columns, fireplaces, and whirlpool tubs.
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