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Broadcom Inc. (AVGO) Increases Despite Market Slip: Here's What You Need to Know
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The latest trading session saw Broadcom Inc. (AVGO - Free Report) ending at $838.36, denoting a +1.4% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.48%. On the other hand, the Dow registered a loss of 1.12%, and the technology-centric Nasdaq increased by 0.38%.
Shares of the chipmaker witnessed a loss of 0.63% over the previous month, beating the performance of the Computer and Technology sector with its loss of 3.16% and the S&P 500's loss of 2.65%.
Investors will be eagerly watching for the performance of Broadcom Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of $10.97, indicating a 4.98% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $9.28 billion, up 3.92% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $42.16 per share and revenue of $35.8 billion, indicating changes of +12.01% and +7.83%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Broadcom Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Broadcom Inc. holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Broadcom Inc. is currently exchanging hands at a Forward P/E ratio of 19.61. This signifies a discount in comparison to the average Forward P/E of 23.87 for its industry.
We can additionally observe that AVGO currently boasts a PEG ratio of 1.56. 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. The Electronics - Semiconductors industry had an average PEG ratio of 3.9 as trading concluded yesterday.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Broadcom Inc. (AVGO) Increases Despite Market Slip: Here's What You Need to Know
The latest trading session saw Broadcom Inc. (AVGO - Free Report) ending at $838.36, denoting a +1.4% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.48%. On the other hand, the Dow registered a loss of 1.12%, and the technology-centric Nasdaq increased by 0.38%.
Shares of the chipmaker witnessed a loss of 0.63% over the previous month, beating the performance of the Computer and Technology sector with its loss of 3.16% and the S&P 500's loss of 2.65%.
Investors will be eagerly watching for the performance of Broadcom Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of $10.97, indicating a 4.98% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $9.28 billion, up 3.92% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $42.16 per share and revenue of $35.8 billion, indicating changes of +12.01% and +7.83%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Broadcom Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Broadcom Inc. holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Broadcom Inc. is currently exchanging hands at a Forward P/E ratio of 19.61. This signifies a discount in comparison to the average Forward P/E of 23.87 for its industry.
We can additionally observe that AVGO currently boasts a PEG ratio of 1.56. 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. The Electronics - Semiconductors industry had an average PEG ratio of 3.9 as trading concluded yesterday.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.