Yahoo Finance Symbotic Inc. (SYM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw Symbotic Inc. (SYM) ending at $39.73, denoting a -0.9% adjustment from its last day's close. This change lagged the S&P 500's 0.88% loss on the day. Meanwhile, the Dow experienced a rise of 0.56%, and the technology-dominated Nasdaq saw a decrease of 2.05%.
The company's shares have seen a decrease of 17.14% over the last month, not keeping up with the Business Services sector's loss of 6.12% and the S&P 500's loss of 2.57%.
The upcoming earnings release of Symbotic Inc. will be of great interest to investors. The company's earnings report is expected on May 6, 2024. The company's earnings per share (EPS) are projected to be -$0.02, reflecting an 80% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $415.98 million, indicating a 55.89% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.02 per share and a revenue of $1.76 billion, representing changes of +94.59% and +49.59%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Symbotic Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Symbotic Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Symbotic Inc. (SYM) : Free Stock Analysis Report
