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Symbotic Inc. (SYM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Symbotic Inc. (SYM - Free Report) closed at $64.44 in the latest trading session, marking a -7.8% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.53%. Elsewhere, the Dow saw a downswing of 0.71%, while the tech-heavy Nasdaq depreciated by 0.93%.
Prior to today's trading, shares of the company had gained 28.9% outpaced the Business Services sector's loss of 7.87% and the S&P 500's gain of 1.13%.
The investment community will be paying close attention to the earnings performance of Symbotic Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.07, reflecting a 40% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $600.16 million, indicating a 4.05% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.24 per share and a revenue of $2.23 billion, demonstrating changes of +400% and 0%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Symbotic Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 15.12% increase. As of now, Symbotic Inc. holds a Zacks Rank of #2 (Buy).
In the context of valuation, Symbotic Inc. is at present trading with a Forward P/E ratio of 175.82. This indicates a premium in contrast to its industry's Forward P/E of 22.4.
One should further note that SYM currently holds a PEG ratio of 5.86. 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. As of the close of trade yesterday, the Technology Services industry held an average PEG ratio of 1.85.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 56, finds itself in the top 23% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Symbotic Inc. (SYM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Symbotic Inc. (SYM - Free Report) closed at $64.44 in the latest trading session, marking a -7.8% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.53%. Elsewhere, the Dow saw a downswing of 0.71%, while the tech-heavy Nasdaq depreciated by 0.93%.
Prior to today's trading, shares of the company had gained 28.9% outpaced the Business Services sector's loss of 7.87% and the S&P 500's gain of 1.13%.
The investment community will be paying close attention to the earnings performance of Symbotic Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.07, reflecting a 40% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $600.16 million, indicating a 4.05% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.24 per share and a revenue of $2.23 billion, demonstrating changes of +400% and 0%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Symbotic Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 15.12% increase. As of now, Symbotic Inc. holds a Zacks Rank of #2 (Buy).
In the context of valuation, Symbotic Inc. is at present trading with a Forward P/E ratio of 175.82. This indicates a premium in contrast to its industry's Forward P/E of 22.4.
One should further note that SYM currently holds a PEG ratio of 5.86. 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. As of the close of trade yesterday, the Technology Services industry held an average PEG ratio of 1.85.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 56, finds itself in the top 23% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.