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Roku (ROKU) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Roku (ROKU - Free Report) closed at $73.50, marking a -0.12% move from the previous day. This move lagged the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Coming into today, shares of the video streaming company had gained 16.5% in the past month. In that same time, the Consumer Discretionary sector gained 1.65%, while the S&P 500 gained 3.43%.
Investors will be hoping for strength from Roku as it approaches its next earnings release, which is expected to be July 27, 2023. On that day, Roku is projected to report earnings of -$1.28 per share, which would represent a year-over-year decline of 56.1%. Meanwhile, our latest consensus estimate is calling for revenue of $769.81 million, up 0.71% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$5.25 per share and revenue of $3.27 billion, which would represent changes of -45.03% and +4.49%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Roku. Recent revisions tend to reflect the latest 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.48% lower within the past month. Roku currently has a Zacks Rank of #3 (Hold).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 31% 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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Roku (ROKU) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Roku (ROKU - Free Report) closed at $73.50, marking a -0.12% move from the previous day. This move lagged the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Coming into today, shares of the video streaming company had gained 16.5% in the past month. In that same time, the Consumer Discretionary sector gained 1.65%, while the S&P 500 gained 3.43%.
Investors will be hoping for strength from Roku as it approaches its next earnings release, which is expected to be July 27, 2023. On that day, Roku is projected to report earnings of -$1.28 per share, which would represent a year-over-year decline of 56.1%. Meanwhile, our latest consensus estimate is calling for revenue of $769.81 million, up 0.71% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$5.25 per share and revenue of $3.27 billion, which would represent changes of -45.03% and +4.49%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Roku. Recent revisions tend to reflect the latest 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.48% lower within the past month. Roku currently has a Zacks Rank of #3 (Hold).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 31% 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.