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Sonos (SONO) Stock Sinks As Market Gains: What You Should Know
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Sonos (SONO - Free Report) closed the most recent trading day at $27.68, moving -1.91% from the previous trading session. This move lagged the S&P 500's daily gain of 0.34%. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq lost 0.47%.
Coming into today, shares of the maker of wireless speakers and home sound systems had gained 4.67% in the past month. In that same time, the Consumer Discretionary sector lost 2.57%, while the S&P 500 gained 3.75%.
Sonos will be looking to display strength as it nears its next earnings release. On that day, Sonos is projected to report earnings of $0.88 per share, which would represent year-over-year growth of 183.87%. Our most recent consensus estimate is calling for quarterly revenue of $361.4 million, up 8.55% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.23 per share and revenue of $1.98 billion. These totals would mark changes of -30.51% and +15.37%, respectively, from last 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.
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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Sonos is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Sonos's current valuation metrics, including its Forward P/E ratio of 22.94. This valuation marks a premium compared to its industry's average Forward P/E of 12.18.
Also, we should mention that SONO has a PEG ratio of 1.59. 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 1.59 as of yesterday's close.
The Audio Video Production industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Sonos (SONO) Stock Sinks As Market Gains: What You Should Know
Sonos (SONO - Free Report) closed the most recent trading day at $27.68, moving -1.91% from the previous trading session. This move lagged the S&P 500's daily gain of 0.34%. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq lost 0.47%.
Coming into today, shares of the maker of wireless speakers and home sound systems had gained 4.67% in the past month. In that same time, the Consumer Discretionary sector lost 2.57%, while the S&P 500 gained 3.75%.
Sonos will be looking to display strength as it nears its next earnings release. On that day, Sonos is projected to report earnings of $0.88 per share, which would represent year-over-year growth of 183.87%. Our most recent consensus estimate is calling for quarterly revenue of $361.4 million, up 8.55% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.23 per share and revenue of $1.98 billion. These totals would mark changes of -30.51% and +15.37%, respectively, from last 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.
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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Sonos is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Sonos's current valuation metrics, including its Forward P/E ratio of 22.94. This valuation marks a premium compared to its industry's average Forward P/E of 12.18.
Also, we should mention that SONO has a PEG ratio of 1.59. 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 1.59 as of yesterday's close.
The Audio Video Production industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.