Roku (ROKU) closed at $76.98 in the latest trading session, marking a -0.75% move from the prior day. This change lagged the S&P 500's 0.02% loss on the day. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, added 0.04%.

Coming into today, shares of the video streaming company had gained 0.26% in the past month. In that same time, the Consumer Discretionary sector gained 7.27%, while the S&P 500 gained 3.77%.

Market participants will be closely following the financial results of Roku in its upcoming release. The company plans to announce its earnings on October 30, 2024. The company's earnings per share (EPS) are projected to be -$0.35, reflecting an 84.98% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.02 billion, up 11.35% from the prior-year quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.44 per share and a revenue of $3.97 billion, signifying shifts of +71.26% and +13.99%, respectively, from the last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Roku. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.3% higher. Roku currently has a Zacks Rank of #1 (Strong Buy).

The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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