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Avnet (AVT) Outpaces Stock Market Gains: What You Should Know
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Avnet (AVT - Free Report) closed at $38.37 in the latest trading session, marking a +1.72% move from the prior day. This move outpaced the S&P 500's daily gain of 1.61%. Meanwhile, the Dow gained 1.45%, and the Nasdaq, a tech-heavy index, added 0.36%.
Heading into today, shares of the distributor of electronic components had lost 12.36% over the past month, lagging the Computer and Technology sector's loss of 6.03% and the S&P 500's loss of 1.42% in that time.
Wall Street will be looking for positivity from Avnet as it approaches its next earnings report date. This is expected to be April 27, 2022. 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, the Zacks Consensus Estimate for revenue is projecting net sales of $5.62 billion, up 14.23% from the year-ago period.
AVT's full-year Zacks Consensus Estimates are calling for earnings of $5.67 per share and revenue of $22.7 billion. These results would represent year-over-year changes of +109.23% and +16.2%, respectively.
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. 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 #4 (Sell) right now.
In terms of valuation, Avnet is currently trading at a Forward P/E ratio of 6.66. For comparison, its industry has an average Forward P/E of 6.66, which means Avnet is trading at a no noticeable deviation to the group.
We can also see that AVT currently has a PEG ratio of 0.23. 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. AVT's industry had an average PEG ratio of 1.07 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 243, which puts it in the bottom 4% 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.
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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Avnet (AVT) Outpaces Stock Market Gains: What You Should Know
Avnet (AVT - Free Report) closed at $38.37 in the latest trading session, marking a +1.72% move from the prior day. This move outpaced the S&P 500's daily gain of 1.61%. Meanwhile, the Dow gained 1.45%, and the Nasdaq, a tech-heavy index, added 0.36%.
Heading into today, shares of the distributor of electronic components had lost 12.36% over the past month, lagging the Computer and Technology sector's loss of 6.03% and the S&P 500's loss of 1.42% in that time.
Wall Street will be looking for positivity from Avnet as it approaches its next earnings report date. This is expected to be April 27, 2022. 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, the Zacks Consensus Estimate for revenue is projecting net sales of $5.62 billion, up 14.23% from the year-ago period.
AVT's full-year Zacks Consensus Estimates are calling for earnings of $5.67 per share and revenue of $22.7 billion. These results would represent year-over-year changes of +109.23% and +16.2%, respectively.
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. 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 #4 (Sell) right now.
In terms of valuation, Avnet is currently trading at a Forward P/E ratio of 6.66. For comparison, its industry has an average Forward P/E of 6.66, which means Avnet is trading at a no noticeable deviation to the group.
We can also see that AVT currently has a PEG ratio of 0.23. 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. AVT's industry had an average PEG ratio of 1.07 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 243, which puts it in the bottom 4% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.