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Sysco (SYY) Stock Moves -1.47%: What You Should Know
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Sysco (SYY - Free Report) closed at $72.19 in the latest trading session, marking a -1.47% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.8%. At the same time, the Dow lost 2.11%, and the tech-heavy Nasdaq lost 0.06%.
Prior to today's trading, shares of the food distributor had lost 11.77% over the past month. This has lagged the Consumer Staples sector's loss of 5.75% and the S&P 500's loss of 4.08% in that time.
Wall Street will be looking for positivity from Sysco as it approaches its next earnings report date. This is expected to be November 1, 2022. The company is expected to report EPS of $0.99, up 19.28% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $18.61 billion, up 13.06% from the year-ago period.
SYY's full-year Zacks Consensus Estimates are calling for earnings of $4.20 per share and revenue of $75.6 billion. These results would represent year-over-year changes of +29.23% and +10.15%, respectively.
It is also important to note the recent changes to analyst estimates for Sysco. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 has moved 0.08% lower. Sysco is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Sysco is currently trading at a Forward P/E ratio of 17.43. For comparison, its industry has an average Forward P/E of 17.28, which means Sysco is trading at a premium to the group.
We can also see that SYY currently has a PEG ratio of 1.58. 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. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.44 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Sysco (SYY) Stock Moves -1.47%: What You Should Know
Sysco (SYY - Free Report) closed at $72.19 in the latest trading session, marking a -1.47% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.8%. At the same time, the Dow lost 2.11%, and the tech-heavy Nasdaq lost 0.06%.
Prior to today's trading, shares of the food distributor had lost 11.77% over the past month. This has lagged the Consumer Staples sector's loss of 5.75% and the S&P 500's loss of 4.08% in that time.
Wall Street will be looking for positivity from Sysco as it approaches its next earnings report date. This is expected to be November 1, 2022. The company is expected to report EPS of $0.99, up 19.28% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $18.61 billion, up 13.06% from the year-ago period.
SYY's full-year Zacks Consensus Estimates are calling for earnings of $4.20 per share and revenue of $75.6 billion. These results would represent year-over-year changes of +29.23% and +10.15%, respectively.
It is also important to note the recent changes to analyst estimates for Sysco. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 has moved 0.08% lower. Sysco is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Sysco is currently trading at a Forward P/E ratio of 17.43. For comparison, its industry has an average Forward P/E of 17.28, which means Sysco is trading at a premium to the group.
We can also see that SYY currently has a PEG ratio of 1.58. 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. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.44 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.