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HP (HPQ) Dips More Than Broader Market: What You Should Know
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In the latest trading session, HP (HPQ - Free Report) closed at $35.99, marking a -0.8% move from the previous day. This change lagged the S&P 500's daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq depreciated by 0.33%.
Coming into today, shares of the personal computer and printer maker had gained 0.81% in the past month. In that same time, the Computer and Technology sector gained 2.1%, while the S&P 500 gained 0.41%.
Investors will be eagerly watching for the performance of HP in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.93, signifying a 3.33% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.96 billion, up 1% from the year-ago period.
Investors might also notice recent changes to analyst estimates for HP. Such recent modifications usually signify the changing landscape 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. HP is currently a Zacks Rank #4 (Sell).
In the context of valuation, HP is at present trading with a Forward P/E ratio of 10.06. This signifies a discount in comparison to the average Forward P/E of 15.22 for its industry.
It's also important to note that HPQ currently trades at a PEG ratio of 2.48. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Computer - Micro Computers industry had an average PEG ratio of 1.8.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 17% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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HP (HPQ) Dips More Than Broader Market: What You Should Know
In the latest trading session, HP (HPQ - Free Report) closed at $35.99, marking a -0.8% move from the previous day. This change lagged the S&P 500's daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq depreciated by 0.33%.
Coming into today, shares of the personal computer and printer maker had gained 0.81% in the past month. In that same time, the Computer and Technology sector gained 2.1%, while the S&P 500 gained 0.41%.
Investors will be eagerly watching for the performance of HP in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.93, signifying a 3.33% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.96 billion, up 1% from the year-ago period.
Investors might also notice recent changes to analyst estimates for HP. Such recent modifications usually signify the changing landscape 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. HP is currently a Zacks Rank #4 (Sell).
In the context of valuation, HP is at present trading with a Forward P/E ratio of 10.06. This signifies a discount in comparison to the average Forward P/E of 15.22 for its industry.
It's also important to note that HPQ currently trades at a PEG ratio of 2.48. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Computer - Micro Computers industry had an average PEG ratio of 1.8.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 17% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.