Cirrus Logic (CRUS) closed the most recent trading day at $83.44, moving -1.73% from the previous trading session. This move lagged the S&P 500's daily gain of 0.19%. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 0.08%.
Heading into today, shares of the chipmaker had gained 8.68% over the past month, outpacing the Computer and Technology sector's gain of 6.59% and the S&P 500's gain of 3.72% in that time.
Investors will be hoping for strength from CRUS as it approaches its next earnings release, which is expected to be January 29, 2020. On that day, CRUS is projected to report earnings of $1.12 per share, which would represent year-over-year growth of 23.08%. Our most recent consensus estimate is calling for quarterly revenue of $345.60 million, up 6.57% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.39 per share and revenue of $1.21 billion. These totals would mark changes of +28.41% and +2.3%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for CRUS. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. CRUS currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that CRUS has a Forward P/E ratio of 25.03 right now. This represents a premium compared to its industry's average Forward P/E of 24.71.
It is also worth noting that CRUS currently has a PEG ratio of 1.79. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Electronics - Semiconductors industry currently had an average PEG ratio of 2.16 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Cirrus Logic, Inc. (CRUS) : Free Stock Analysis Report
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