In the latest trading session, Corsair Gaming, Inc. (CRSR) closed at $21.68, marking a +0.09% move from the previous day. This move outpaced the S&P 500’s daily loss of 0.87%. At the same time, the Dow lost 0.08%, and the tech-heavy Nasdaq lost 0.34%.
Heading into today, shares of the company had lost 15.95% over the past month, lagging the Consumer Discretionary sector’s loss of 9.01% and the S&P 500’s gain of 0.7% in that time.
Corsair Gaming, Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.30, down 43.4% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $488.47 million, down 12.2% from the prior-year quarter.
CRSR’s full-year Zacks Consensus Estimates are calling for earnings of $1.38 per share and revenue of $1.88 billion. These results would represent year-over-year changes of -13.75% and +10.55%, respectively.
Investors might also notice recent changes to analyst estimates for Corsair Gaming, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Corsair Gaming, Inc. is currently sporting a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Corsair Gaming, Inc. has a Forward P/E ratio of 15.7 right now. For comparison, its industry has an average Forward P/E of 17.85, which means Corsair Gaming, Inc. is trading at a discount to the group.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Corsair Gaming, Inc. (CRSR): Free Stock Analysis Report
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