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Avnet (AVT) Stock Sinks As Market Gains: What You Should Know
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Avnet (AVT - Free Report) closed at $40.39 in the latest trading session, marking a -0.35% move from the prior day. This change lagged the S&P 500's 0.7% gain on the day. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.23%.
Heading into today, shares of the distributor of electronic components had gained 7.19% over the past month, outpacing the Computer and Technology sector's loss of 6.07% and the S&P 500's gain of 0.18% in that time.
Wall Street will be looking for positivity from AVT as it approaches its next earnings report date. On that day, AVT is projected to report earnings of $0.55 per share, which would represent year-over-year growth of 44.74%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.5 billion, up 4.36% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2 per share and revenue of $18.49 billion. These totals would mark changes of +29.87% and +4.83%, respectively, from last year.
Any recent changes to analyst estimates for AVT should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. AVT is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, AVT is currently trading at a Forward P/E ratio of 20.29. This valuation marks a premium compared to its industry's average Forward P/E of 15.34.
We can also see that AVT currently has a PEG ratio of 1.04. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Electronics - Parts Distribution was holding an average PEG ratio of 1.04 at yesterday's closing price.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 113, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Avnet (AVT) Stock Sinks As Market Gains: What You Should Know
Avnet (AVT - Free Report) closed at $40.39 in the latest trading session, marking a -0.35% move from the prior day. This change lagged the S&P 500's 0.7% gain on the day. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.23%.
Heading into today, shares of the distributor of electronic components had gained 7.19% over the past month, outpacing the Computer and Technology sector's loss of 6.07% and the S&P 500's gain of 0.18% in that time.
Wall Street will be looking for positivity from AVT as it approaches its next earnings report date. On that day, AVT is projected to report earnings of $0.55 per share, which would represent year-over-year growth of 44.74%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.5 billion, up 4.36% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2 per share and revenue of $18.49 billion. These totals would mark changes of +29.87% and +4.83%, respectively, from last year.
Any recent changes to analyst estimates for AVT should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. AVT is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, AVT is currently trading at a Forward P/E ratio of 20.29. This valuation marks a premium compared to its industry's average Forward P/E of 15.34.
We can also see that AVT currently has a PEG ratio of 1.04. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Electronics - Parts Distribution was holding an average PEG ratio of 1.04 at yesterday's closing price.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 113, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.