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SMART Global Holdings, Inc. (SGH) Dips More Than Broader Markets: What You Should Know
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SMART Global Holdings, Inc. (SGH - Free Report) closed at $27.90 in the latest trading session, marking a -0.96% move from the prior day. This change lagged the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 0.67%.
Coming into today, shares of the company had lost 2.9% in the past month. In that same time, the Computer and Technology sector lost 8.67%, while the S&P 500 lost 5.92%.
SMART Global Holdings, Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.72, up 63.64% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $435.01 million, up 43.09% from the year-ago period.
SGH's full-year Zacks Consensus Estimates are calling for earnings of $3.31 per share and revenue of $1.84 billion. These results would represent year-over-year changes of +26.82% and +22.6%, respectively.
Any recent changes to analyst estimates for SMART Global Holdings, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.6% lower. SMART Global Holdings, Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note SMART Global Holdings, Inc.'s current valuation metrics, including its Forward P/E ratio of 8.5. For comparison, its industry has an average Forward P/E of 20.03, which means SMART Global Holdings, Inc. is trading at a discount to the group.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% 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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SMART Global Holdings, Inc. (SGH) Dips More Than Broader Markets: What You Should Know
SMART Global Holdings, Inc. (SGH - Free Report) closed at $27.90 in the latest trading session, marking a -0.96% move from the prior day. This change lagged the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 0.67%.
Coming into today, shares of the company had lost 2.9% in the past month. In that same time, the Computer and Technology sector lost 8.67%, while the S&P 500 lost 5.92%.
SMART Global Holdings, Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.72, up 63.64% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $435.01 million, up 43.09% from the year-ago period.
SGH's full-year Zacks Consensus Estimates are calling for earnings of $3.31 per share and revenue of $1.84 billion. These results would represent year-over-year changes of +26.82% and +22.6%, respectively.
Any recent changes to analyst estimates for SMART Global Holdings, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.6% lower. SMART Global Holdings, Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note SMART Global Holdings, Inc.'s current valuation metrics, including its Forward P/E ratio of 8.5. For comparison, its industry has an average Forward P/E of 20.03, which means SMART Global Holdings, Inc. is trading at a discount to the group.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% 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.