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Sonos (SONO) closed at $32.09 in the latest trading session, marking a -0.9% move from the prior day. This change lagged the S&P 500's 0.18% gain on the day.
Prior to today's trading, shares of the maker of wireless speakers and home sound systems had lost 7.25% over the past month. This has lagged the Consumer Discretionary sector's loss of 0.52% and the S&P 500's gain of 2.96% in that time.
Wall Street will be looking for positivity from SONO as it approaches its next earnings report date. On that day, SONO is projected to report earnings of -$0.07 per share, which would represent a year-over-year decline of 146.67%. Our most recent consensus estimate is calling for quarterly revenue of $351.56 million, up 3.45% from the year-ago period.
Investors might also notice recent changes to analyst estimates for SONO. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 0.79% higher. SONO is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, SONO is holding a Forward P/E ratio of 27.67. Its industry sports an average Forward P/E of 13.34, so we one might conclude that SONO is trading at a premium comparatively.
We can also see that SONO currently has a PEG ratio of 0.66. 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. SONO's industry had an average PEG ratio of 1.18 as of yesterday's close.
The Audio Video Production industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 20, putting it in the top 8% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Sonos, Inc. (SONO) : Free Stock Analysis Report
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