SMART Global Holdings, Inc. (SGH) Outpaces Stock Market Gains: What You Should Know
SMART Global Holdings, Inc. (SGH) closed at $28.83 in the latest trading session, marking a +1.09% move from the prior day. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow lost 0.16%, and the Nasdaq, a tech-heavy index, added 0.24%.
Heading into today, shares of the company had lost 12.82% over the past month, lagging the Computer and Technology sector's loss of 5.27% and the S&P 500's loss of 4.02% in that time.
Wall Street will be looking for positivity from SMART Global Holdings, Inc. as it approaches its next earnings report date. In that report, analysts expect SMART Global Holdings, Inc. to post earnings of $0.72 per share. This would mark year-over-year growth of 63.64%. Our most recent consensus estimate is calling for quarterly revenue of $435.01 million, up 43.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.31 per share and revenue of $1.84 billion, which would represent changes of +26.82% and +22.6%, respectively, from the prior year.
Any recent changes to analyst estimates for SMART Global Holdings, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 0.6% lower. SMART Global Holdings, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that SMART Global Holdings, Inc. has a Forward P/E ratio of 8.61 right now. This valuation marks a discount compared to its industry's average Forward P/E of 19.63.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% 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.
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