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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 $40.24 in the latest trading session, marking a -0.25% move from the prior day. This change lagged the S&P 500's daily gain of 0.23%.
Prior to today's trading, shares of the distributor of electronic components had lost 8.44% over the past month. This has lagged the Computer and Technology sector's gain of 5.66% and the S&P 500's gain of 2.34% in that time.
Investors will be hoping for strength from AVT as it approaches its next earnings release. The company is expected to report EPS of $0.75, up 435.71% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.92 billion, up 18.22% from the year-ago period.
AVT's full-year Zacks Consensus Estimates are calling for earnings of $2.34 per share and revenue of $19.23 billion. These results would represent year-over-year changes of +51.95% and +9.02%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.64% higher. AVT is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, AVT is currently trading at a Forward P/E ratio of 17.22. This valuation marks a premium compared to its industry's average Forward P/E of 14.15.
Also, we should mention that AVT has a PEG ratio of 0.76. 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 0.76 at yesterday's closing price.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 10, which puts it in the top 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 $40.24 in the latest trading session, marking a -0.25% move from the prior day. This change lagged the S&P 500's daily gain of 0.23%.
Prior to today's trading, shares of the distributor of electronic components had lost 8.44% over the past month. This has lagged the Computer and Technology sector's gain of 5.66% and the S&P 500's gain of 2.34% in that time.
Investors will be hoping for strength from AVT as it approaches its next earnings release. The company is expected to report EPS of $0.75, up 435.71% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.92 billion, up 18.22% from the year-ago period.
AVT's full-year Zacks Consensus Estimates are calling for earnings of $2.34 per share and revenue of $19.23 billion. These results would represent year-over-year changes of +51.95% and +9.02%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.64% higher. AVT is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, AVT is currently trading at a Forward P/E ratio of 17.22. This valuation marks a premium compared to its industry's average Forward P/E of 14.15.
Also, we should mention that AVT has a PEG ratio of 0.76. 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 0.76 at yesterday's closing price.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 10, which puts it in the top 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.