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Avnet (AVT) Stock Sinks As Market Gains: What You Should Know
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Avnet (AVT - Free Report) closed the most recent trading day at $42.15, moving -1.84% from the previous trading session. This change lagged the S&P 500's 0.71% gain on the day. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq added 0.33%.
Heading into today, shares of the distributor of electronic components had gained 1.78% over the past month, lagging the Computer and Technology sector's gain of 2.62% and the S&P 500's gain of 3.76% in that time.
Investors will be hoping for strength from Avnet as it approaches its next earnings release. In that report, analysts expect Avnet to post earnings of $1.51 per share. This would mark year-over-year growth of 104.05%. Our most recent consensus estimate is calling for quarterly revenue of $5.62 billion, up 14.23% from the year-ago period.
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 might also notice recent changes to analyst estimates for Avnet. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Avnet is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Avnet is holding a Forward P/E ratio of 7.58. This represents a no noticeable deviation compared to its industry's average Forward P/E of 7.58.
Meanwhile, AVT's PEG ratio is currently 0.26. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Electronics - Parts Distribution stocks are, on average, holding a PEG ratio of 1.15 based on yesterday's closing prices.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 7, which puts it in the top 3% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Avnet (AVT) Stock Sinks As Market Gains: What You Should Know
Avnet (AVT - Free Report) closed the most recent trading day at $42.15, moving -1.84% from the previous trading session. This change lagged the S&P 500's 0.71% gain on the day. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq added 0.33%.
Heading into today, shares of the distributor of electronic components had gained 1.78% over the past month, lagging the Computer and Technology sector's gain of 2.62% and the S&P 500's gain of 3.76% in that time.
Investors will be hoping for strength from Avnet as it approaches its next earnings release. In that report, analysts expect Avnet to post earnings of $1.51 per share. This would mark year-over-year growth of 104.05%. Our most recent consensus estimate is calling for quarterly revenue of $5.62 billion, up 14.23% from the year-ago period.
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 might also notice recent changes to analyst estimates for Avnet. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Avnet is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Avnet is holding a Forward P/E ratio of 7.58. This represents a no noticeable deviation compared to its industry's average Forward P/E of 7.58.
Meanwhile, AVT's PEG ratio is currently 0.26. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Electronics - Parts Distribution stocks are, on average, holding a PEG ratio of 1.15 based on yesterday's closing prices.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 7, which puts it in the top 3% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.