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Avnet (AVT) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Avnet (AVT - Free Report) closed at $41.82, marking a -0.17% move from the previous day. This move lagged the S&P 500's daily gain of 0.22%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.2%.
Coming into today, shares of the distributor of electronic components had lost 10.05% in the past month. In that same time, the Computer and Technology sector lost 8.36%, while the S&P 500 lost 8.32%.
Investors will be hoping for strength from Avnet as it approaches its next earnings release. In that report, analysts expect Avnet to post earnings of $1.96 per share. This would mark year-over-year growth of 75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.24 billion, up 19.45% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.83 per share and revenue of $24.18 billion. These totals would mark changes of +152.03% and +23.79%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Avnet. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 0.04% higher. Avnet currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Avnet currently has a Forward P/E ratio of 6.13. Its industry sports an average Forward P/E of 6.82, so we one might conclude that Avnet is trading at a discount comparatively.
Investors should also note that AVT has a PEG ratio of 0.16 right now. 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 - Parts Distribution was holding an average PEG ratio of 0.75 at yesterday's closing price.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 2, putting it in the top 1% 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 AVT in the coming trading sessions, be sure to utilize Zacks.com.
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Avnet (AVT) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Avnet (AVT - Free Report) closed at $41.82, marking a -0.17% move from the previous day. This move lagged the S&P 500's daily gain of 0.22%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.2%.
Coming into today, shares of the distributor of electronic components had lost 10.05% in the past month. In that same time, the Computer and Technology sector lost 8.36%, while the S&P 500 lost 8.32%.
Investors will be hoping for strength from Avnet as it approaches its next earnings release. In that report, analysts expect Avnet to post earnings of $1.96 per share. This would mark year-over-year growth of 75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.24 billion, up 19.45% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.83 per share and revenue of $24.18 billion. These totals would mark changes of +152.03% and +23.79%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Avnet. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 0.04% higher. Avnet currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Avnet currently has a Forward P/E ratio of 6.13. Its industry sports an average Forward P/E of 6.82, so we one might conclude that Avnet is trading at a discount comparatively.
Investors should also note that AVT has a PEG ratio of 0.16 right now. 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 - Parts Distribution was holding an average PEG ratio of 0.75 at yesterday's closing price.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 2, putting it in the top 1% 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 AVT in the coming trading sessions, be sure to utilize Zacks.com.