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Adeia (ADEA) Surpasses Market Returns: Some Facts Worth Knowing
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In the latest trading session, Adeia (ADEA - Free Report) closed at $9.09, marking a +0.66% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.63% for the day. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq added 0.39%.
Prior to today's trading, shares of the provider of chip technology for small electronic devices had lost 3.42% over the past month. This has was narrower than the Business Services sector's loss of 3.96% and lagged the S&P 500's loss of 3.39% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Adeia in its upcoming earnings disclosure. The company is expected to report EPS of $0.26, down 16.13% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $97.38 million, indicating a 53.84% decline compared to the corresponding quarter of the prior year.
ADEA's full-year Zacks Consensus Estimates are calling for earnings of $1.30 per share and revenue of $403.89 million. These results would represent year-over-year changes of -36.27% and -49.87%, respectively.
Any recent changes to analyst estimates for Adeia should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 5.51% downward. Adeia is currently sporting a Zacks Rank of #4 (Sell).
With respect to valuation, Adeia is currently being traded at a Forward P/E ratio of 6.95. For comparison, its industry has an average Forward P/E of 23.19, which means Adeia is trading at a discount to the group.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 89, finds itself in the top 36% echelons 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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Adeia (ADEA) Surpasses Market Returns: Some Facts Worth Knowing
In the latest trading session, Adeia (ADEA - Free Report) closed at $9.09, marking a +0.66% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.63% for the day. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq added 0.39%.
Prior to today's trading, shares of the provider of chip technology for small electronic devices had lost 3.42% over the past month. This has was narrower than the Business Services sector's loss of 3.96% and lagged the S&P 500's loss of 3.39% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Adeia in its upcoming earnings disclosure. The company is expected to report EPS of $0.26, down 16.13% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $97.38 million, indicating a 53.84% decline compared to the corresponding quarter of the prior year.
ADEA's full-year Zacks Consensus Estimates are calling for earnings of $1.30 per share and revenue of $403.89 million. These results would represent year-over-year changes of -36.27% and -49.87%, respectively.
Any recent changes to analyst estimates for Adeia should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 5.51% downward. Adeia is currently sporting a Zacks Rank of #4 (Sell).
With respect to valuation, Adeia is currently being traded at a Forward P/E ratio of 6.95. For comparison, its industry has an average Forward P/E of 23.19, which means Adeia is trading at a discount to the group.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 89, finds itself in the top 36% echelons 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.