In the latest trading session, Sanmina (SANM - Free Report) closed at $31.64, marking a +1.22% move from the previous day. This change outpaced the S&P 500's 0.03% gain on the day. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, lost 0.04%.
Coming into today, shares of the electronics manufacturing services company had gained 4.86% in the past month. In that same time, the Computer and Technology sector gained 2.03%, while the S&P 500 gained 2.25%.
Wall Street will be looking for positivity from SANM as it approaches its next earnings report date. The company is expected to report EPS of $0.78, up 16.42% from the prior-year quarter.
Any recent changes to analyst estimates for SANM should also be noted by investors. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SANM is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that SANM has a Forward P/E ratio of 9.36 right now. This represents a discount compared to its industry's average Forward P/E of 11.98.
We can also see that SANM currently has a PEG ratio of 0.78. 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 - Manufacturing Services was holding an average PEG ratio of 0.78 at yesterday's closing price.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% 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.
To follow SANM in the coming trading sessions, be sure to utilize Zacks.com.