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Avnet (AVT) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Avnet (AVT - Free Report) closed at $41.92, marking a -1.76% move from the previous day. This move lagged the S&P 500's daily loss of 0.53%. Meanwhile, the Dow lost 0.29%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Prior to today's trading, shares of the distributor of electronic components had gained 2.7% over the past month. This has outpaced the Computer and Technology sector's loss of 6.75% and the S&P 500's loss of 4.24% in that time.
Avnet will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.51, up 104.05% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.62 billion, up 14.23% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.67 per share and revenue of $22.7 billion, which would represent changes of +109.23% and +16.2%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Avnet. 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. 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, 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 3.9% higher. Avnet is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Avnet has a Forward P/E ratio of 7.53 right now. For comparison, its industry has an average Forward P/E of 7.53, which means Avnet is trading at a no noticeable deviation to the group.
It is also worth noting that AVT currently has a PEG ratio of 0.26. 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 was holding an average PEG ratio of 1.07 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 1, which puts it in the top 1% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Avnet (AVT - Free Report) closed at $41.92, marking a -1.76% move from the previous day. This move lagged the S&P 500's daily loss of 0.53%. Meanwhile, the Dow lost 0.29%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Prior to today's trading, shares of the distributor of electronic components had gained 2.7% over the past month. This has outpaced the Computer and Technology sector's loss of 6.75% and the S&P 500's loss of 4.24% in that time.
Avnet will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.51, up 104.05% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.62 billion, up 14.23% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.67 per share and revenue of $22.7 billion, which would represent changes of +109.23% and +16.2%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Avnet. 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. 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, 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 3.9% higher. Avnet is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Avnet has a Forward P/E ratio of 7.53 right now. For comparison, its industry has an average Forward P/E of 7.53, which means Avnet is trading at a no noticeable deviation to the group.
It is also worth noting that AVT currently has a PEG ratio of 0.26. 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 was holding an average PEG ratio of 1.07 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 1, which puts it in the top 1% 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.