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Avnet (AVT) Outpaces Stock Market Gains: What You Should Know
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Avnet (AVT - Free Report) closed at $39.42 in the latest trading session, marking a +1.47% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.4%.
Coming into today, shares of the distributor of electronic components had lost 12.85% in the past month. In that same time, the Computer and Technology sector gained 7.26%, while the S&P 500 gained 1.07%.
Investors will be hoping for strength from AVT as it approaches its next earnings release. In that report, analysts expect AVT to post earnings of $0.75 per share. This would mark year-over-year growth of 435.71%. Meanwhile, our latest consensus estimate is calling for revenue of $4.92 billion, up 18.22% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.34 per share and revenue of $19.23 billion, which would represent changes of +51.95% and +9.02%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for AVT. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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 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. Within the past 30 days, our consensus EPS projection has moved 0.64% higher. AVT is currently a Zacks Rank #2 (Buy).
Investors should also note AVT's current valuation metrics, including its Forward P/E ratio of 16.58. Its industry sports an average Forward P/E of 13.66, so we one might conclude that AVT is trading at a premium comparatively.
Also, we should mention that AVT has a PEG ratio of 0.73. 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. Electronics - Parts Distribution stocks are, on average, holding a PEG ratio of 0.73 based on yesterday's closing prices.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 9, which puts it in the top 4% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Avnet (AVT) Outpaces Stock Market Gains: What You Should Know
Avnet (AVT - Free Report) closed at $39.42 in the latest trading session, marking a +1.47% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.4%.
Coming into today, shares of the distributor of electronic components had lost 12.85% in the past month. In that same time, the Computer and Technology sector gained 7.26%, while the S&P 500 gained 1.07%.
Investors will be hoping for strength from AVT as it approaches its next earnings release. In that report, analysts expect AVT to post earnings of $0.75 per share. This would mark year-over-year growth of 435.71%. Meanwhile, our latest consensus estimate is calling for revenue of $4.92 billion, up 18.22% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.34 per share and revenue of $19.23 billion, which would represent changes of +51.95% and +9.02%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for AVT. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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 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. Within the past 30 days, our consensus EPS projection has moved 0.64% higher. AVT is currently a Zacks Rank #2 (Buy).
Investors should also note AVT's current valuation metrics, including its Forward P/E ratio of 16.58. Its industry sports an average Forward P/E of 13.66, so we one might conclude that AVT is trading at a premium comparatively.
Also, we should mention that AVT has a PEG ratio of 0.73. 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. Electronics - Parts Distribution stocks are, on average, holding a PEG ratio of 0.73 based on yesterday's closing prices.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 9, which puts it in the top 4% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.