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Avnet (AVT) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Avnet (AVT - Free Report) closed at $40.29, marking a +1.03% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.81%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 0.37%.
Heading into today, shares of the distributor of electronic components had lost 2.97% over the past month, lagging the Computer and Technology sector's gain of 4.13% and the S&P 500's gain of 5.64% in that time.
Avnet will be looking to display strength as it nears 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%. 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.
Any recent changes to analyst estimates for Avnet should also be noted by investors. These revisions help to show the ever-changing nature of 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Avnet is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Avnet currently has a Forward P/E ratio of 7.04. This represents a no noticeable deviation compared to its industry's average Forward P/E of 7.04.
Also, we should mention that AVT has a PEG ratio of 0.24. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. AVT's industry had an average PEG ratio of 1.14 as of yesterday's close.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 27, which puts it in the top 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Avnet (AVT) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Avnet (AVT - Free Report) closed at $40.29, marking a +1.03% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.81%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 0.37%.
Heading into today, shares of the distributor of electronic components had lost 2.97% over the past month, lagging the Computer and Technology sector's gain of 4.13% and the S&P 500's gain of 5.64% in that time.
Avnet will be looking to display strength as it nears 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%. 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.
Any recent changes to analyst estimates for Avnet should also be noted by investors. These revisions help to show the ever-changing nature of 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Avnet is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Avnet currently has a Forward P/E ratio of 7.04. This represents a no noticeable deviation compared to its industry's average Forward P/E of 7.04.
Also, we should mention that AVT has a PEG ratio of 0.24. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. AVT's industry had an average PEG ratio of 1.14 as of yesterday's close.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 27, which puts it in the top 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.