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Sanmina (SANM) Stock Sinks As Market Gains: What You Should Know
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Sanmina (SANM - Free Report) closed the most recent trading day at $58.61, moving -0.32% from the previous trading session. This move lagged the S&P 500's daily gain of 1.29%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 10.96%.
Coming into today, shares of the electronics manufacturing services company had lost 5.81% in the past month. In that same time, the Computer and Technology sector lost 2%, while the S&P 500 lost 0.23%.
Sanmina will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.49, up 37.96% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Sanmina. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Sanmina currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Sanmina is currently trading at a Forward P/E ratio of 10.46. Its industry sports an average Forward P/E of 9.58, so we one might conclude that Sanmina is trading at a premium comparatively.
Investors should also note that SANM has a PEG ratio of 0.87 right now. 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. SANM's industry had an average PEG ratio of 0.72 as of yesterday's close.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Sanmina (SANM) Stock Sinks As Market Gains: What You Should Know
Sanmina (SANM - Free Report) closed the most recent trading day at $58.61, moving -0.32% from the previous trading session. This move lagged the S&P 500's daily gain of 1.29%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 10.96%.
Coming into today, shares of the electronics manufacturing services company had lost 5.81% in the past month. In that same time, the Computer and Technology sector lost 2%, while the S&P 500 lost 0.23%.
Sanmina will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.49, up 37.96% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Sanmina. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Sanmina currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Sanmina is currently trading at a Forward P/E ratio of 10.46. Its industry sports an average Forward P/E of 9.58, so we one might conclude that Sanmina is trading at a premium comparatively.
Investors should also note that SANM has a PEG ratio of 0.87 right now. 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. SANM's industry had an average PEG ratio of 0.72 as of yesterday's close.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.