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In the latest trading session, Sysco (SYY) closed at $87.86, marking a +1.15% move from the previous day. This move outpaced the S&P 500's daily gain of 0.13%. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, lost 0.04%.
Heading into today, shares of the food distributor had gained 1.51% over the past month, lagging the Consumer Staples sector's gain of 2.74% and the S&P 500's gain of 5.55% in that time.
Wall Street will be looking for positivity from Sysco as it approaches its next earnings report date. This is expected to be August 9, 2022. On that day, Sysco is projected to report earnings of $1.12 per share, which would represent year-over-year growth of 57.75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Sysco is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Sysco is holding a Forward P/E ratio of 20.11. This valuation marks a premium compared to its industry's average Forward P/E of 17.91.
Also, we should mention that SYY has a PEG ratio of 2.23. 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. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.96 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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