Symbotic Inc. (SYM) closed at $81.83 in the latest trading session, marking a +1.09% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.17%. Meanwhile, the Dow lost 0.48%, and the Nasdaq, a tech-heavy index, added 0.46%.
Prior to today's trading, shares of the company had gained 28.29% outpaced the Business Services sector's loss of 3.15% and the S&P 500's gain of 2.38%.
The investment community will be paying close attention to the earnings performance of Symbotic Inc. in its upcoming release. In that report, analysts expect Symbotic Inc. to post earnings of $0.07 per share. This would mark year-over-year growth of 40%. Our most recent consensus estimate is calling for quarterly revenue of $600.16 million, up 4.05% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.24 per share and revenue of $2.23 billion, indicating changes of +400% and 0%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Symbotic Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 15.12% higher. Right now, Symbotic Inc. possesses a Zacks Rank of #3 (Hold).
Investors should also note Symbotic Inc.'s current valuation metrics, including its Forward P/E ratio of 203.65. This indicates a premium in contrast to its industry's Forward P/E of 21.51.
It is also worth noting that SYM currently has a PEG ratio of 6.79. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Technology Services industry currently had an average PEG ratio of 1.79 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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.
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Symbotic Inc. (SYM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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