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HP (HPQ) Declines More Than Market: Some Information for Investors
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In the latest market close, HP (HPQ - Free Report) reached $37.11, with a -1.49% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.29%. Meanwhile, the Dow experienced a drop of 0.86%, and the technology-dominated Nasdaq saw a decrease of 0.09%.
Shares of the personal computer and printer maker witnessed a gain of 0.61% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 3.2% and the S&P 500's gain of 3.3%.
Market participants will be closely following the financial results of HP in its upcoming release. The company plans to announce its earnings on November 26, 2024. In that report, analysts expect HP to post earnings of $0.93 per share. This would mark year-over-year growth of 3.33%. Simultaneously, our latest consensus estimate expects the revenue to be $13.96 billion, showing a 1% escalation compared to the year-ago quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for HP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. HP presently features a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that HP has a Forward P/E ratio of 10.45 right now. This expresses a discount compared to the average Forward P/E of 15.5 of its industry.
Meanwhile, HPQ's PEG ratio is currently 2.58. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Computer - Micro Computers stocks are, on average, holding a PEG ratio of 1.75 based on yesterday's closing prices.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 233, which puts it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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HP (HPQ) Declines More Than Market: Some Information for Investors
In the latest market close, HP (HPQ - Free Report) reached $37.11, with a -1.49% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.29%. Meanwhile, the Dow experienced a drop of 0.86%, and the technology-dominated Nasdaq saw a decrease of 0.09%.
Shares of the personal computer and printer maker witnessed a gain of 0.61% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 3.2% and the S&P 500's gain of 3.3%.
Market participants will be closely following the financial results of HP in its upcoming release. The company plans to announce its earnings on November 26, 2024. In that report, analysts expect HP to post earnings of $0.93 per share. This would mark year-over-year growth of 3.33%. Simultaneously, our latest consensus estimate expects the revenue to be $13.96 billion, showing a 1% escalation compared to the year-ago quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for HP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. HP presently features a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that HP has a Forward P/E ratio of 10.45 right now. This expresses a discount compared to the average Forward P/E of 15.5 of its industry.
Meanwhile, HPQ's PEG ratio is currently 2.58. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Computer - Micro Computers stocks are, on average, holding a PEG ratio of 1.75 based on yesterday's closing prices.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 233, which puts it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.