Symbotic Shares Fall as Investors Await Quarterly Results
The stock lagged major indexes in the latest session, while Zacks consensus forecasts point to higher revenue and lower earnings.
Symbotic shares closed at $41.39, down 1.45% in the latest trading session. The decline outpaced losses in the S&P 500, Dow and Nasdaq, which fell 0.17%, 0.26% and 0.09%, respectively.
Over the past month, Symbotic gained 5.87%. That outperformed the Business Services sector, which fell 5.31%, and the S&P 500, which slipped 0.24%.
Investors are watching for the company’s upcoming financial results. Zacks’ consensus estimate calls for earnings of 16 cents per share, down 69.81% from the year-earlier quarter, and revenue of $772.85 million, up 24.96%.
For the full year, Zacks consensus estimates project earnings of $0.58 per share and revenue of $2.81 billion. Those figures represent a 68.13% decline in earnings and a 24.94% increase in revenue from the prior year.
The consensus estimate for earnings per share has fallen 15.32% over the past month, according to Zacks. The article did not specify when Symbotic will report its results.
This article was produced with the help of AI technology.
Source: Yahoo Finance
