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The stock has gained 23.9% over the past month, outperforming the 3.6% rally of the industry it belongs to and the 2.1% rise of the Zacks S&P 500 composite.
On the basis of price-to-sales, SYM is trading at 2.47X compared with the industry’s 9.44X.
Improved Q2 Sales & Margin Performance
Total revenues increased 15.2% year over year to $424.3 million. Improved performances across different segments resulted in such an increase. The adjusted EBITDA amounted to $22.5 million, a 59% rise from the year-ago quarter. Adjusted EBITDA margin of 5.29% increased 146 basis points on a year-over-year basis.
Strong Liquidity
SYM’s current ratio (a measure of liquidity) was at 1.36 at the end of the second quarter of fiscal 2024, higher than the preceding quarter’s 1.15 and the year-ago quarter’s 1.02. A current ratio of more than 1 often indicates that a company will easily pay off its short-term obligations.
Sales & EPS Growth Prospects Look Impressive
The consensus estimate for third-quarter fiscal 2024 revenues and earnings implies year-over-year growth of 48.4% and more than 100%, respectively.
The Zacks Consensus Estimate for SYM’s 2024 and 2025 sales indicates year-over-year increases of 50.2% and 40.5%, respectively. The consensus estimate for EPS in 2024 and 2025 is expected to grow 81.1% and more than 100%, respectively.
Buy SYM: Discounted & Soaring
SYM appears like a compelling buy ahead of its third-quarter fiscal 2024 results as it trades at a discount relative to its industry based on price-to-sales. Moreover, the company’s liquidity position and top and bottom-line growth prospects look healthy.
Equifax Inc. (EFX - Free Report) reported impressive second-quarter 2024 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate.
EFX’s adjusted earnings (excluding 51 cents from non-recurring items) were $1.82 per share, outpacing the Zacks Consensus Estimate by 5.8% and increasing by 6.4% on a year-over-year basis. Total revenues of $1.4 billion surpassed the consensus estimate by a slight margin and jumped 8.6% from the year-ago quarter.
Omnicom Group Inc. (OMC - Free Report) reported impressive second-quarter 2024 results.
OMC’s earnings of $1.95 per share beat the consensus estimate by 3.7% and rose 7.7% year over year. Total revenues of $3.9 billion surpassed the consensus estimate by 1.1% and increased 6.8% on a year-over-year basis.
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Should You Buy Symbiotic (SYM) Before Its Q3 Earnings Results?
Symbiotic, Inc. (SYM - Free Report) will report its third-quarter fiscal 2024 results on Jul 29, after market close.
Let us check out how SYM has lately been doing.
Symbotic Inc. Price and EPS Surprise
Symbotic Inc. price-eps-surprise | Symbotic Inc. Quote
Stock Looks Cheap Despite Strong Rally
The stock has gained 23.9% over the past month, outperforming the 3.6% rally of the industry it belongs to and the 2.1% rise of the Zacks S&P 500 composite.
On the basis of price-to-sales, SYM is trading at 2.47X compared with the industry’s 9.44X.
Improved Q2 Sales & Margin Performance
Total revenues increased 15.2% year over year to $424.3 million. Improved performances across different segments resulted in such an increase. The adjusted EBITDA amounted to $22.5 million, a 59% rise from the year-ago quarter. Adjusted EBITDA margin of 5.29% increased 146 basis points on a year-over-year basis.
Strong Liquidity
SYM’s current ratio (a measure of liquidity) was at 1.36 at the end of the second quarter of fiscal 2024, higher than the preceding quarter’s 1.15 and the year-ago quarter’s 1.02. A current ratio of more than 1 often indicates that a company will easily pay off its short-term obligations.
Sales & EPS Growth Prospects Look Impressive
The consensus estimate for third-quarter fiscal 2024 revenues and earnings implies year-over-year growth of 48.4% and more than 100%, respectively.
The Zacks Consensus Estimate for SYM’s 2024 and 2025 sales indicates year-over-year increases of 50.2% and 40.5%, respectively. The consensus estimate for EPS in 2024 and 2025 is expected to grow 81.1% and more than 100%, respectively.
Buy SYM: Discounted & Soaring
SYM appears like a compelling buy ahead of its third-quarter fiscal 2024 results as it trades at a discount relative to its industry based on price-to-sales. Moreover, the company’s liquidity position and top and bottom-line growth prospects look healthy.
SYM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings Snapshot
Equifax Inc. (EFX - Free Report) reported impressive second-quarter 2024 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate.
EFX’s adjusted earnings (excluding 51 cents from non-recurring items) were $1.82 per share, outpacing the Zacks Consensus Estimate by 5.8% and increasing by 6.4% on a year-over-year basis. Total revenues of $1.4 billion surpassed the consensus estimate by a slight margin and jumped 8.6% from the year-ago quarter.
Omnicom Group Inc. (OMC - Free Report) reported impressive second-quarter 2024 results.
OMC’s earnings of $1.95 per share beat the consensus estimate by 3.7% and rose 7.7% year over year. Total revenues of $3.9 billion surpassed the consensus estimate by 1.1% and increased 6.8% on a year-over-year basis.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.