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Avnet (AVT) Dips More Than Broader Markets: What You Should Know
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Avnet (AVT - Free Report) closed the most recent trading day at $40.85, moving -1.14% from the previous trading session. This move lagged the S&P 500's daily loss of 0.18%.
Heading into today, shares of the distributor of electronic components had gained 3.22% over the past month, outpacing the Computer and Technology sector's gain of 3.16% and the S&P 500's gain of 2.44% in that time.
Wall Street will be looking for positivity from AVT as it approaches its next earnings report date. This is expected to be August 11, 2021. In that report, analysts expect AVT to post earnings of $0.82 per share. This would mark year-over-year growth of 485.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.06 billion, up 21.72% from the year-ago period.
Investors should also note any recent changes to analyst estimates for AVT. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.88% higher. AVT is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, AVT is holding a Forward P/E ratio of 11.88. Its industry sports an average Forward P/E of 11.88, so we one might conclude that AVT is trading at a no noticeable deviation comparatively.
We can also see that AVT currently has a PEG ratio of 0.52. 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 0.52 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 4, putting it in the top 2% 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) Dips More Than Broader Markets: What You Should Know
Avnet (AVT - Free Report) closed the most recent trading day at $40.85, moving -1.14% from the previous trading session. This move lagged the S&P 500's daily loss of 0.18%.
Heading into today, shares of the distributor of electronic components had gained 3.22% over the past month, outpacing the Computer and Technology sector's gain of 3.16% and the S&P 500's gain of 2.44% in that time.
Wall Street will be looking for positivity from AVT as it approaches its next earnings report date. This is expected to be August 11, 2021. In that report, analysts expect AVT to post earnings of $0.82 per share. This would mark year-over-year growth of 485.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.06 billion, up 21.72% from the year-ago period.
Investors should also note any recent changes to analyst estimates for AVT. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.88% higher. AVT is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, AVT is holding a Forward P/E ratio of 11.88. Its industry sports an average Forward P/E of 11.88, so we one might conclude that AVT is trading at a no noticeable deviation comparatively.
We can also see that AVT currently has a PEG ratio of 0.52. 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 0.52 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 4, putting it in the top 2% 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.