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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 the most recent trading day at $25.93, moving -0.95% from the previous trading session. This change lagged the S&P 500's daily loss of 0.43%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, lost 0.62%.
Prior to today's trading, shares of the company had lost 8.84% over the past month. This has was narrower than the Computer and Technology sector's loss of 9.41% and lagged the S&P 500's loss of 6.57% in that time.
SMART Global Holdings, Inc. will be looking to display strength as it nears its next earnings release. 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, our latest consensus estimate is calling for revenue of $435.01 million, up 43.09% from the prior-year quarter.
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.
Investors might also notice recent changes to analyst estimates for SMART Global Holdings, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. SMART Global Holdings, Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note SMART Global Holdings, Inc.'s current valuation metrics, including its Forward P/E ratio of 7.9. For comparison, its industry has an average Forward P/E of 19.49, 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 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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SMART Global Holdings, Inc. (SGH) Dips More Than Broader Markets: What You Should Know
SMART Global Holdings, Inc. (SGH - Free Report) closed the most recent trading day at $25.93, moving -0.95% from the previous trading session. This change lagged the S&P 500's daily loss of 0.43%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, lost 0.62%.
Prior to today's trading, shares of the company had lost 8.84% over the past month. This has was narrower than the Computer and Technology sector's loss of 9.41% and lagged the S&P 500's loss of 6.57% in that time.
SMART Global Holdings, Inc. will be looking to display strength as it nears its next earnings release. 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, our latest consensus estimate is calling for revenue of $435.01 million, up 43.09% from the prior-year quarter.
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.
Investors might also notice recent changes to analyst estimates for SMART Global Holdings, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. SMART Global Holdings, Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note SMART Global Holdings, Inc.'s current valuation metrics, including its Forward P/E ratio of 7.9. For comparison, its industry has an average Forward P/E of 19.49, 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 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.