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Avnet (AVT) Outpaces Stock Market Gains: What You Should Know
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Avnet (AVT - Free Report) closed at $39.62 in the latest trading session, marking a +1.15% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.02%. Meanwhile, the Dow gained 0.74%, and the Nasdaq, a tech-heavy index, lost 0.4%.
Coming into today, shares of the distributor of electronic components had lost 0.28% in the past month. In that same time, the Computer and Technology sector lost 3.79%, while the S&P 500 lost 0.91%.
Avnet will be looking to display strength as it nears its next earnings release. On that day, Avnet is projected to report earnings of $1.25 per share, which would represent year-over-year growth of 160.42%. Our most recent consensus estimate is calling for quarterly revenue of $5.52 billion, up 18.33% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.87 per share and revenue of $22.16 billion, which would represent changes of +79.7% and +13.46%, respectively, from the prior year.
Any recent changes to analyst estimates for Avnet 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Avnet currently has a Zacks Rank of #3 (Hold).
Investors should also note Avnet's current valuation metrics, including its Forward P/E ratio of 8.05. This represents a discount compared to its industry's average Forward P/E of 8.7.
Meanwhile, AVT's PEG ratio is currently 0.29. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Electronics - Parts Distribution industry currently had an average PEG ratio of 0.32 as of yesterday's close.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 4, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Avnet (AVT) Outpaces Stock Market Gains: What You Should Know
Avnet (AVT - Free Report) closed at $39.62 in the latest trading session, marking a +1.15% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.02%. Meanwhile, the Dow gained 0.74%, and the Nasdaq, a tech-heavy index, lost 0.4%.
Coming into today, shares of the distributor of electronic components had lost 0.28% in the past month. In that same time, the Computer and Technology sector lost 3.79%, while the S&P 500 lost 0.91%.
Avnet will be looking to display strength as it nears its next earnings release. On that day, Avnet is projected to report earnings of $1.25 per share, which would represent year-over-year growth of 160.42%. Our most recent consensus estimate is calling for quarterly revenue of $5.52 billion, up 18.33% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.87 per share and revenue of $22.16 billion, which would represent changes of +79.7% and +13.46%, respectively, from the prior year.
Any recent changes to analyst estimates for Avnet 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Avnet currently has a Zacks Rank of #3 (Hold).
Investors should also note Avnet's current valuation metrics, including its Forward P/E ratio of 8.05. This represents a discount compared to its industry's average Forward P/E of 8.7.
Meanwhile, AVT's PEG ratio is currently 0.29. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Electronics - Parts Distribution industry currently had an average PEG ratio of 0.32 as of yesterday's close.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 4, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.