In the latest trading session, Avnet (AVT - Free Report) closed at $37.44, marking a -1.08% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.3%.
Coming into today, shares of the distributor of electronic components had lost 3.49% in the past month. In that same time, the Computer and Technology sector lost 5.47%, while the S&P 500 lost 3.58%.
Wall Street will be looking for positivity from AVT as it approaches its next earnings report date. The company is expected to report EPS of $1.08, up 200% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.23 billion, up 10.72% from the prior-year quarter.
AVT's full-year Zacks Consensus Estimates are calling for earnings of $4.40 per share and revenue of $20.92 billion. These results would represent year-over-year changes of +62.36% and +7.08%, respectively.
Investors might also notice recent changes to analyst estimates for AVT. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. AVT is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, AVT is holding a Forward P/E ratio of 8.6. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 8.6.
It is also worth noting that AVT currently has a PEG ratio of 0.34. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Electronics - Parts Distribution industry currently had an average PEG ratio of 0.34 as of yesterday's close.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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In the latest trading session, Avnet (AVT - Free Report) closed at $37.44, marking a -1.08% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.3%.
Coming into today, shares of the distributor of electronic components had lost 3.49% in the past month. In that same time, the Computer and Technology sector lost 5.47%, while the S&P 500 lost 3.58%.
Wall Street will be looking for positivity from AVT as it approaches its next earnings report date. The company is expected to report EPS of $1.08, up 200% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.23 billion, up 10.72% from the prior-year quarter.
AVT's full-year Zacks Consensus Estimates are calling for earnings of $4.40 per share and revenue of $20.92 billion. These results would represent year-over-year changes of +62.36% and +7.08%, respectively.
Investors might also notice recent changes to analyst estimates for AVT. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. AVT is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, AVT is holding a Forward P/E ratio of 8.6. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 8.6.
It is also worth noting that AVT currently has a PEG ratio of 0.34. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Electronics - Parts Distribution industry currently had an average PEG ratio of 0.34 as of yesterday's close.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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