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In the latest trading session, Sysco (SYY) closed at $86, marking a +1.3% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.28%. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Heading into today, shares of the food distributor had lost 1.65% over the past month, lagging the Consumer Staples sector's gain of 2.35% and the S&P 500's gain of 8.35% in that time.
Sysco will be looking to display strength as it nears its next earnings release, which is expected to be August 9, 2022. The company is expected to report EPS of $1.12, up 57.75% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $18.27 billion, up 13.23% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Sysco. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 0.03% higher. Sysco is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Sysco has a Forward P/E ratio of 19.65 right now. This represents a premium compared to its industry's average Forward P/E of 18.39.
Meanwhile, SYY's PEG ratio is currently 2.18. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Food - Miscellaneous industry currently had an average PEG ratio of 2.93 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% 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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