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Symbotic Inc. (SYM) Stock Sinks As Market Gains: Here's Why
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In the latest trading session, Symbotic Inc. (SYM - Free Report) closed at $42.59, marking a -1.59% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.66%. On the other hand, the Dow registered a gain of 0.18%, and the technology-centric Nasdaq increased by 1.05%.
The company's stock has climbed by 0.79% in the past month, exceeding the Business Services sector's loss of 4.68% and the S&P 500's gain of 0.55%.
Analysts and investors alike will be keeping a close eye on the performance of Symbotic Inc. in its upcoming earnings disclosure. On that day, Symbotic Inc. is projected to report earnings of $0.16 per share, which would represent a year-over-year decline of 69.81%. Meanwhile, the latest consensus estimate predicts the revenue to be $772.85 million, indicating a 24.96% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.58 per share and revenue of $2.81 billion, indicating changes of -68.13% and +24.94%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Symbotic Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 has moved 42.09% lower within the past month. At present, Symbotic Inc. boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Symbotic Inc. has a Forward P/E ratio of 58.09 right now. For comparison, its industry has an average Forward P/E of 15.91, which means Symbotic Inc. is trading at a premium to the group.
Meanwhile, SYM's PEG ratio is currently 1.94. 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. SYM's industry had an average PEG ratio of 1.2 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 172, this industry ranks in the bottom 31% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Symbotic Inc. (SYM) Stock Sinks As Market Gains: Here's Why
In the latest trading session, Symbotic Inc. (SYM - Free Report) closed at $42.59, marking a -1.59% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.66%. On the other hand, the Dow registered a gain of 0.18%, and the technology-centric Nasdaq increased by 1.05%.
The company's stock has climbed by 0.79% in the past month, exceeding the Business Services sector's loss of 4.68% and the S&P 500's gain of 0.55%.
Analysts and investors alike will be keeping a close eye on the performance of Symbotic Inc. in its upcoming earnings disclosure. On that day, Symbotic Inc. is projected to report earnings of $0.16 per share, which would represent a year-over-year decline of 69.81%. Meanwhile, the latest consensus estimate predicts the revenue to be $772.85 million, indicating a 24.96% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.58 per share and revenue of $2.81 billion, indicating changes of -68.13% and +24.94%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Symbotic Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 has moved 42.09% lower within the past month. At present, Symbotic Inc. boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Symbotic Inc. has a Forward P/E ratio of 58.09 right now. For comparison, its industry has an average Forward P/E of 15.91, which means Symbotic Inc. is trading at a premium to the group.
Meanwhile, SYM's PEG ratio is currently 1.94. 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. SYM's industry had an average PEG ratio of 1.2 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 172, this industry ranks in the bottom 31% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.