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Sonos (SONO) Stock Moves -1.76%: What You Should Know
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Sonos (SONO - Free Report) closed the most recent trading day at $22.82, moving -1.76% from the previous trading session. This move was narrower than the S&P 500's daily loss of 3.63%. Elsewhere, the Dow lost 2.77%, while the tech-heavy Nasdaq lost 0.19%.
Heading into today, shares of the maker of wireless speakers and home sound systems had lost 17.68% over the past month, lagging the Consumer Discretionary sector's loss of 12.22% and the S&P 500's loss of 6.15% in that time.
Wall Street will be looking for positivity from Sonos as it approaches its next earnings report date. This is expected to be May 11, 2022. The company is expected to report EPS of $0.04, down 87.1% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $361.4 million, up 8.55% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.23 per share and revenue of $1.98 billion. These totals would mark changes of -30.51% and +15.37%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Sonos. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Sonos is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Sonos is currently trading at a Forward P/E ratio of 18.89. Its industry sports an average Forward P/E of 11.38, so we one might conclude that Sonos is trading at a premium comparatively.
Also, we should mention that SONO has a PEG ratio of 1.31. 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. The Audio Video Production was holding an average PEG ratio of 1.29 at yesterday's closing price.
The Audio Video Production industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 209, which puts it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow SONO in the coming trading sessions, be sure to utilize Zacks.com.
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Sonos (SONO) Stock Moves -1.76%: What You Should Know
Sonos (SONO - Free Report) closed the most recent trading day at $22.82, moving -1.76% from the previous trading session. This move was narrower than the S&P 500's daily loss of 3.63%. Elsewhere, the Dow lost 2.77%, while the tech-heavy Nasdaq lost 0.19%.
Heading into today, shares of the maker of wireless speakers and home sound systems had lost 17.68% over the past month, lagging the Consumer Discretionary sector's loss of 12.22% and the S&P 500's loss of 6.15% in that time.
Wall Street will be looking for positivity from Sonos as it approaches its next earnings report date. This is expected to be May 11, 2022. The company is expected to report EPS of $0.04, down 87.1% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $361.4 million, up 8.55% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.23 per share and revenue of $1.98 billion. These totals would mark changes of -30.51% and +15.37%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Sonos. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Sonos is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Sonos is currently trading at a Forward P/E ratio of 18.89. Its industry sports an average Forward P/E of 11.38, so we one might conclude that Sonos is trading at a premium comparatively.
Also, we should mention that SONO has a PEG ratio of 1.31. 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. The Audio Video Production was holding an average PEG ratio of 1.29 at yesterday's closing price.
The Audio Video Production industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 209, which puts it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow SONO in the coming trading sessions, be sure to utilize Zacks.com.