U.S. markets close in 1 hour 17 minutes
  • S&P 500

    -0.39 (-0.01%)
  • Dow 30

    -337.69 (-1.08%)
  • Nasdaq

    +137.95 (+1.05%)
  • Russell 2000

    +3.38 (+0.15%)
  • Crude Oil

    -2.14 (-3.37%)
  • Gold

    -45.80 (-2.58%)
  • Silver

    -1.13 (-4.08%)

    -0.0091 (-0.75%)
  • 10-Yr Bond

    -0.0670 (-4.41%)

    -0.0059 (-0.42%)

    +0.2890 (+0.27%)

    -2,829.27 (-5.69%)
  • CMC Crypto 200

    +7.50 (+0.80%)
  • FTSE 100

    -168.53 (-2.53%)
  • Nikkei 225

    -1,202.26 (-3.99%)

Logitech (LOGI) Outpaces Stock Market Gains: What You Should Know

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
Zacks Equity Research
·3 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Logitech (LOGI) closed the most recent trading day at $89.66, moving +1.44% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq gained 0.5%.

Coming into today, shares of the maker of keyboards, webcams and other computer accessories had gained 16.42% in the past month. In that same time, the Computer and Technology sector gained 4.61%, while the S&P 500 gained 5.42%.

LOGI will be looking to display strength as it nears its next earnings release. On that day, LOGI is projected to report earnings of $1.08 per share, which would represent year-over-year growth of 28.57%. Meanwhile, our latest consensus estimate is calling for revenue of $1.23 billion, up 35.91% from the prior-year quarter.

LOGI's full-year Zacks Consensus Estimates are calling for earnings of $4.12 per share and revenue of $4.16 billion. These results would represent year-over-year changes of +91.63% and +39.65%, respectively.

Investors might also notice recent changes to analyst estimates for LOGI. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. LOGI currently has a Zacks Rank of #1 (Strong Buy).

In terms of valuation, LOGI is currently trading at a Forward P/E ratio of 21.45. For comparison, its industry has an average Forward P/E of 32.07, which means LOGI is trading at a discount to the group.

The Computer - Peripheral Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Logitech International S.A. (LOGI) : Free Stock Analysis Report
To read this article on Zacks.com click here.