Roku (ROKU - Free Report) closed at $102.40 in the latest trading session, marking a +0.63% move from the prior day. This move outpaced the S&P 500's daily loss of 1.23%. Elsewhere, the Dow lost 1.28%, while the tech-heavy Nasdaq lost 1.13%.
Coming into today, shares of the video streaming company had lost 32.77% in the past month. In that same time, the Consumer Discretionary sector lost 0.1%, while the S&P 500 gained 1.95%.
Investors will be hoping for strength from ROKU as it approaches its next earnings release. In that report, analysts expect ROKU to post earnings of -$0.28 per share. This would mark a year-over-year decline of 211.11%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $258.07 million, up 48.84% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.50 per share and revenue of $1.08 billion, which would represent changes of -525% and +45.76%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for ROKU. These revisions help to show the ever-changing nature of 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. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 10.71% higher. 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 225, which puts it in the bottom 12% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.