TTM Technologies (TTMI) Dips More Than Broader Markets: What You Should Know
TTM Technologies (TTMI) closed the most recent trading day at $14.44, moving -1.63% from the previous trading session. This change lagged the S&P 500's daily loss of 0.72%. At the same time, the Dow lost 0.45%, and the tech-heavy Nasdaq lost 0.27%.
Coming into today, shares of the printed circuit board maker had lost 12.88% in the past month. In that same time, the Computer and Technology sector lost 14.29%, while the S&P 500 lost 9.06%.
TTM Technologies will be looking to display strength as it nears its next earnings release. In that report, analysts expect TTM Technologies to post earnings of $0.43 per share. This would mark year-over-year growth of 26.47%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $675.73 million, up 21.36% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.61 per share and revenue of $2.56 billion, which would represent changes of +25.78% and +13.66%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for TTM Technologies. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. TTM Technologies is currently a Zacks Rank #1 (Strong Buy).
Investors should also note TTM Technologies's current valuation metrics, including its Forward P/E ratio of 9.14. Its industry sports an average Forward P/E of 16.78, so we one might conclude that TTM Technologies is trading at a discount comparatively.
The Electronics - Miscellaneous Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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