In the latest trading session, Symbotic Inc. (SYM) closed at $69.67, marking a -4.86% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.19%. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the company had gained 22.6% in the past month. In that same time, the Business Services sector lost 0.17%, while the S&P 500 gained 2.26%.
Market participants will be closely following the financial results of Symbotic Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.08, reflecting a 366.67% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $622.31 million, up 27.86% from the year-ago period.
SYM's full-year Zacks Consensus Estimates are calling for earnings of $0.4 per share and revenue of $2.72 billion. These results would represent year-over-year changes of -78.02% and +21.1%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Symbotic Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Symbotic Inc. holds a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Symbotic Inc. has a Forward P/E ratio of 181.94 right now. This signifies a premium in comparison to the average Forward P/E of 16.89 for its industry.
Investors should also note that SYM has a PEG ratio of 6.06 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Technology Services industry stood at 1.47 at the close of the market yesterday.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 157, this industry ranks in the bottom 36% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
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Symbotic Inc. (SYM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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