In the latest close session, Symbotic Inc. (SYM) was down 4.39% at $40.76. This change lagged the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq lost 0.44%.
Prior to today's trading, shares of the company had gained 1.19% outpaced the Business Services sector's loss of 0.6% and lagged the S&P 500's gain of 2.36%.
Investors will be eagerly watching for the performance of Symbotic Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.16, indicating a 69.81% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $772.85 million, up 24.96% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.58 per share and revenue of $2.81 billion. These totals would mark changes of -68.13% and +24.94%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Symbotic Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Symbotic Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Symbotic Inc. is currently trading at a Forward P/E ratio of 57.22. Its industry sports an average Forward P/E of 15.88, so one might conclude that Symbotic Inc. is trading at a premium comparatively.
It is also worth noting that SYM currently has a PEG ratio of 1.91. 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. SYM's industry had an average PEG ratio of 1.23 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 159, finds itself in the bottom 36% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Symbotic Inc. (SYM): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).