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Avnet (AVT) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Avnet (AVT - Free Report) closed at $41.81, marking a -1.09% move from the previous day. This move lagged the S&P 500's daily gain of 0.16%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq gained 0.49%.
Heading into today, shares of the distributor of electronic components had lost 13.66% over the past month, lagging the Computer and Technology sector's loss of 8.85% and the S&P 500's loss of 6.79% in that time.
Investors will be hoping for strength from Avnet as it approaches its next earnings release. On that day, Avnet is projected to report earnings of $1.96 per share, which would represent year-over-year growth of 75%. Meanwhile, our latest consensus estimate is calling for revenue of $6.24 billion, up 19.45% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Avnet. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.11% lower. Avnet is currently a Zacks Rank #4 (Sell).
Investors should also note Avnet's current valuation metrics, including its Forward P/E ratio of 6.06. This represents a discount compared to its industry's average Forward P/E of 6.65.
Also, we should mention that AVT has a PEG ratio of 0.16. 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. The Electronics - Parts Distribution was holding an average PEG ratio of 0.72 at yesterday's closing price.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 5, 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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Avnet (AVT) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Avnet (AVT - Free Report) closed at $41.81, marking a -1.09% move from the previous day. This move lagged the S&P 500's daily gain of 0.16%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq gained 0.49%.
Heading into today, shares of the distributor of electronic components had lost 13.66% over the past month, lagging the Computer and Technology sector's loss of 8.85% and the S&P 500's loss of 6.79% in that time.
Investors will be hoping for strength from Avnet as it approaches its next earnings release. On that day, Avnet is projected to report earnings of $1.96 per share, which would represent year-over-year growth of 75%. Meanwhile, our latest consensus estimate is calling for revenue of $6.24 billion, up 19.45% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Avnet. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.11% lower. Avnet is currently a Zacks Rank #4 (Sell).
Investors should also note Avnet's current valuation metrics, including its Forward P/E ratio of 6.06. This represents a discount compared to its industry's average Forward P/E of 6.65.
Also, we should mention that AVT has a PEG ratio of 0.16. 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. The Electronics - Parts Distribution was holding an average PEG ratio of 0.72 at yesterday's closing price.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 5, 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.