Sanmina (SANM - Free Report) closed at $59.38 in the latest trading session, marking a +1.31% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.34%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 8.98%.
Coming into today, shares of the electronics manufacturing services company had lost 5.82% in the past month. In that same time, the Computer and Technology sector lost 0.17%, while the S&P 500 gained 1%.
Wall Street will be looking for positivity from Sanmina as it approaches its next earnings report date. In that report, analysts expect Sanmina to post earnings of $1.49 per share. This would mark year-over-year growth of 37.96%.
It is also important to note the recent changes to analyst estimates for Sanmina. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 remained stagnant. Sanmina is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Sanmina is holding a Forward P/E ratio of 10.43. For comparison, its industry has an average Forward P/E of 9.73, which means Sanmina is trading at a premium to the group.
We can also see that SANM currently has a PEG ratio of 0.87. 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 - Manufacturing Services was holding an average PEG ratio of 0.75 at yesterday's closing price.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 2, which puts it in the top 1% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SANM in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Sanmina (SANM - Free Report) closed at $59.38 in the latest trading session, marking a +1.31% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.34%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 8.98%.
Coming into today, shares of the electronics manufacturing services company had lost 5.82% in the past month. In that same time, the Computer and Technology sector lost 0.17%, while the S&P 500 gained 1%.
Wall Street will be looking for positivity from Sanmina as it approaches its next earnings report date. In that report, analysts expect Sanmina to post earnings of $1.49 per share. This would mark year-over-year growth of 37.96%.
It is also important to note the recent changes to analyst estimates for Sanmina. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 remained stagnant. Sanmina is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Sanmina is holding a Forward P/E ratio of 10.43. For comparison, its industry has an average Forward P/E of 9.73, which means Sanmina is trading at a premium to the group.
We can also see that SANM currently has a PEG ratio of 0.87. 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 - Manufacturing Services was holding an average PEG ratio of 0.75 at yesterday's closing price.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 2, which puts it in the top 1% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SANM in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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