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Wolfspeed (WOLF) Laps the Stock Market: Here's Why
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Wolfspeed (WOLF - Free Report) ended the recent trading session at $31.90, demonstrating a +1.3% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.88%. On the other hand, the Dow registered a gain of 0.54%, and the technology-centric Nasdaq increased by 1.35%.
Heading into today, shares of the maker of energy-efficient lighting had lost 24.86% over the past month, lagging the Computer and Technology sector's gain of 0.72% and the S&P 500's gain of 0.64% in that time.
The investment community will be closely monitoring the performance of Wolfspeed in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$0.63, marking a 472.73% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $205.94 million, reflecting a 4.7% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.37 per share and a revenue of $884.69 million, signifying shifts of -63.45% and -4.04%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Wolfspeed. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.47% lower. Wolfspeed is holding a Zacks Rank of #4 (Sell) right now.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 245, positioning it in the bottom 3% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Wolfspeed (WOLF) Laps the Stock Market: Here's Why
Wolfspeed (WOLF - Free Report) ended the recent trading session at $31.90, demonstrating a +1.3% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.88%. On the other hand, the Dow registered a gain of 0.54%, and the technology-centric Nasdaq increased by 1.35%.
Heading into today, shares of the maker of energy-efficient lighting had lost 24.86% over the past month, lagging the Computer and Technology sector's gain of 0.72% and the S&P 500's gain of 0.64% in that time.
The investment community will be closely monitoring the performance of Wolfspeed in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$0.63, marking a 472.73% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $205.94 million, reflecting a 4.7% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.37 per share and a revenue of $884.69 million, signifying shifts of -63.45% and -4.04%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Wolfspeed. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.47% lower. Wolfspeed is holding a Zacks Rank of #4 (Sell) right now.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 245, positioning it in the bottom 3% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.