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Sonos (SONO) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Sonos (SONO - Free Report) closed at $29.80, marking a -0.63% move from the previous day. This change lagged the S&P 500's daily loss of 0.26%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.04%.
Heading into today, shares of the maker of wireless speakers and home sound systems had lost 4.61% over the past month, lagging the Consumer Discretionary sector's gain of 1.56% and the S&P 500's gain of 4.82% in that time.
Sonos will be looking to display strength as it nears its next earnings release. On that day, Sonos is projected to report earnings of $0.90 per share, which would represent a year-over-year decline of 23.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $647.17 million, up 0.25% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.29 per share and revenue of $1.95 billion, which would represent changes of -27.12% and +13.77%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Sonos. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Sonos is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Sonos has a Forward P/E ratio of 23.2 right now. This represents a premium compared to its industry's average Forward P/E of 12.4.
Meanwhile, SONO's PEG ratio is currently 1.37. 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 Audio Video Production industry currently had an average PEG ratio of 1.56 as of yesterday's close.
The Audio Video Production industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 112, putting it in the top 45% 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 SONO in the coming trading sessions, be sure to utilize Zacks.com.
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Sonos (SONO) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Sonos (SONO - Free Report) closed at $29.80, marking a -0.63% move from the previous day. This change lagged the S&P 500's daily loss of 0.26%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.04%.
Heading into today, shares of the maker of wireless speakers and home sound systems had lost 4.61% over the past month, lagging the Consumer Discretionary sector's gain of 1.56% and the S&P 500's gain of 4.82% in that time.
Sonos will be looking to display strength as it nears its next earnings release. On that day, Sonos is projected to report earnings of $0.90 per share, which would represent a year-over-year decline of 23.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $647.17 million, up 0.25% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.29 per share and revenue of $1.95 billion, which would represent changes of -27.12% and +13.77%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Sonos. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Sonos is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Sonos has a Forward P/E ratio of 23.2 right now. This represents a premium compared to its industry's average Forward P/E of 12.4.
Meanwhile, SONO's PEG ratio is currently 1.37. 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 Audio Video Production industry currently had an average PEG ratio of 1.56 as of yesterday's close.
The Audio Video Production industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 112, putting it in the top 45% 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 SONO in the coming trading sessions, be sure to utilize Zacks.com.