Rambus (RMBS) Stock Moves -1.03%: What You Should Know
Rambus (RMBS) closed at $54.77 in the latest trading session, marking a -1.03% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.26%. Meanwhile, the Dow experienced a drop of 0.86%, and the technology-dominated Nasdaq saw a decrease of 1.54%.
Coming into today, shares of the memory chip designer had gained 4.4% in the past month. In that same time, the Computer and Technology sector lost 2.39%, while the S&P 500 lost 3.67%.
Investors will be eagerly watching for the performance of Rambus in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 30, 2023. In that report, analysts expect Rambus to post earnings of $0.41 per share. This would mark a year-over-year decline of 10.87%. Meanwhile, the latest consensus estimate predicts the revenue to be $130.99 million, indicating a 9.35% decrease compared to the same quarter of the previous year.
RMBS's full-year Zacks Consensus Estimates are calling for earnings of $1.76 per share and revenue of $562.78 million. These results would represent year-over-year changes of +0.57% and -1.56%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Rambus. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Rambus is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Rambus's current valuation metrics, including its Forward P/E ratio of 31.53. This indicates a premium in contrast to its industry's Forward P/E of 25.83.
One should further note that RMBS currently holds a PEG ratio of 2.14. 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 4.16 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 146, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
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Rambus, Inc. (RMBS) : Free Stock Analysis Report
