Corsair Gaming, Inc. (CRSR) closed the most recent trading day at $28.04, moving +0.61% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.15%.
Heading into today, shares of the company had gained 2.99% over the past month, outpacing the Consumer Discretionary sector's gain of 0.41% and the S&P 500's loss of 0.58% in that time.
Wall Street will be looking for positivity from CRSR as it approaches its next earnings report date. On that day, CRSR is projected to report earnings of $0.40 per share, which would represent a year-over-year decline of 25.93%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $492.45 million, up 7.73% from the year-ago period.
CRSR's full-year Zacks Consensus Estimates are calling for earnings of $1.82 per share and revenue of $2.08 billion. These results would represent year-over-year changes of +13.75% and +22.19%, respectively.
Investors might also notice recent changes to analyst estimates for CRSR. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CRSR is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that CRSR has a Forward P/E ratio of 15.31 right now. This valuation marks a discount compared to its industry's average Forward P/E of 22.38.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 29% 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.
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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Corsair Gaming, Inc. (CRSR): Free Stock Analysis Report
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