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Sonos (SONO) Stock Sinks As Market Gains: What You Should Know
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Sonos (SONO - Free Report) closed the most recent trading day at $34.41, moving -0.98% from the previous trading session. This change lagged the S&P 500's daily gain of 0.37%.
Heading into today, shares of the maker of wireless speakers and home sound systems had gained 9.21% over the past month, outpacing the Consumer Discretionary sector's gain of 1.86% and the S&P 500's gain of 5.96% in that time.
SONO will be looking to display strength as it nears its next earnings release, which is expected to be November 17, 2021. On that day, SONO is projected to report earnings of -$0.07 per share, which would represent a year-over-year decline of 146.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $351.56 million, up 3.45% from the year-ago period.
It is also important to note the recent changes to analyst estimates for SONO. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.79% higher. SONO is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that SONO has a Forward P/E ratio of 29.7 right now. For comparison, its industry has an average Forward P/E of 13.7, which means SONO is trading at a premium to the group.
It is also worth noting that SONO currently has a PEG ratio of 0.71. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Audio Video Production was holding an average PEG ratio of 1.24 at yesterday's closing price.
The Audio Video Production industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 19% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Sonos (SONO) Stock Sinks As Market Gains: What You Should Know
Sonos (SONO - Free Report) closed the most recent trading day at $34.41, moving -0.98% from the previous trading session. This change lagged the S&P 500's daily gain of 0.37%.
Heading into today, shares of the maker of wireless speakers and home sound systems had gained 9.21% over the past month, outpacing the Consumer Discretionary sector's gain of 1.86% and the S&P 500's gain of 5.96% in that time.
SONO will be looking to display strength as it nears its next earnings release, which is expected to be November 17, 2021. On that day, SONO is projected to report earnings of -$0.07 per share, which would represent a year-over-year decline of 146.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $351.56 million, up 3.45% from the year-ago period.
It is also important to note the recent changes to analyst estimates for SONO. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.79% higher. SONO is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that SONO has a Forward P/E ratio of 29.7 right now. For comparison, its industry has an average Forward P/E of 13.7, which means SONO is trading at a premium to the group.
It is also worth noting that SONO currently has a PEG ratio of 0.71. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Audio Video Production was holding an average PEG ratio of 1.24 at yesterday's closing price.
The Audio Video Production industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 19% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.