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SMART Global Holdings, Inc. (SGH) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, SMART Global Holdings, Inc. (SGH - Free Report) closed at $26.91, marking a -1.36% move from the previous day. This change lagged the S&P 500's daily loss of 0.79%. Elsewhere, the Dow lost 0.53%, while the tech-heavy Nasdaq lost 0.48%.
Heading into today, shares of the company had gained 0.59% over the past month, outpacing the Computer and Technology sector's loss of 4.07% and the S&P 500's loss of 2.43% in that time.
Wall Street will be looking for positivity from SMART Global Holdings, Inc. as it approaches its next earnings report date. On that day, SMART Global Holdings, Inc. is projected to report earnings of $0.72 per share, which would represent year-over-year growth of 63.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $435.01 million, up 43.09% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.31 per share and revenue of $1.84 billion. These totals would mark changes of +26.82% and +22.6%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for SMART Global Holdings, Inc.These recent revisions tend to reflect the evolving nature of short-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. 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 0.6% lower. SMART Global Holdings, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that SMART Global Holdings, Inc. has a Forward P/E ratio of 8.23 right now. This valuation marks a discount compared to its industry's average Forward P/E of 19.55.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 21% 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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SMART Global Holdings, Inc. (SGH) Dips More Than Broader Markets: What You Should Know
In the latest trading session, SMART Global Holdings, Inc. (SGH - Free Report) closed at $26.91, marking a -1.36% move from the previous day. This change lagged the S&P 500's daily loss of 0.79%. Elsewhere, the Dow lost 0.53%, while the tech-heavy Nasdaq lost 0.48%.
Heading into today, shares of the company had gained 0.59% over the past month, outpacing the Computer and Technology sector's loss of 4.07% and the S&P 500's loss of 2.43% in that time.
Wall Street will be looking for positivity from SMART Global Holdings, Inc. as it approaches its next earnings report date. On that day, SMART Global Holdings, Inc. is projected to report earnings of $0.72 per share, which would represent year-over-year growth of 63.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $435.01 million, up 43.09% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.31 per share and revenue of $1.84 billion. These totals would mark changes of +26.82% and +22.6%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for SMART Global Holdings, Inc.These recent revisions tend to reflect the evolving nature of short-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. 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 0.6% lower. SMART Global Holdings, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that SMART Global Holdings, Inc. has a Forward P/E ratio of 8.23 right now. This valuation marks a discount compared to its industry's average Forward P/E of 19.55.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 21% 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.