In the latest trading session, Tech Data (TECD - Free Report) closed at $127.33, marking a +0.97% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.37%. At the same time, the Dow added 0.42%, and the tech-heavy Nasdaq gained 0.56%.
Heading into today, shares of the information technology products distributor had gained 18.29% over the past month, outpacing the Retail-Wholesale sector's gain of 2.79% and the S&P 500's gain of 4.42% in that time.
Wall Street will be looking for positivity from TECD as it approaches its next earnings report date. On that day, TECD is projected to report earnings of $3.01 per share, which would represent a year-over-year decline of 0.33%. Meanwhile, our latest consensus estimate is calling for revenue of $9.34 billion, up 0.03% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.46 per share and revenue of $37.36 billion. These totals would mark changes of +9.49% and +0.33%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for TECD. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. TECD currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, TECD is holding a Forward P/E ratio of 10.12. Its industry sports an average Forward P/E of 13.04, so we one might conclude that TECD is trading at a discount comparatively.
Meanwhile, TECD's PEG ratio is currently 2.6. 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 Retail - Computer Hardware industry currently had an average PEG ratio of 2.3 as of yesterday's close.
The Retail - Computer Hardware industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.