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HP (HPQ - Free Report) closed at $32.95 in the latest trading session, marking a +1.35% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.88%. At the same time, the Dow added 1.24%, and the tech-heavy Nasdaq gained 0.65%.
Heading into today, shares of the personal computer and printer maker had lost 2.17% over the past month, lagging the Computer and Technology sector's gain of 0.37% and the S&P 500's gain of 1.17% in that time.
Market participants will be closely following the financial results of HP in its upcoming release. It is anticipated that the company will report an EPS of $0.74, marking an 8.64% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $13.48 billion, up 2.25% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.56 per share and a revenue of $55.11 billion, demonstrating changes of +5.33% and +2.89%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for HP. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, HP holds a Zacks Rank of #3 (Hold).
From a valuation perspective, HP is currently exchanging hands at a Forward P/E ratio of 9.14. This signifies a discount in comparison to the average Forward P/E of 12.84 for its industry.
We can also see that HPQ currently has a PEG ratio of 2.77. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Computer - Micro Computers industry had an average PEG ratio of 1.64.
The Computer - Micro Computers industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 182, placing it within the bottom 28% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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HP (HPQ) Laps the Stock Market: Here's Why
HP (HPQ - Free Report) closed at $32.95 in the latest trading session, marking a +1.35% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.88%. At the same time, the Dow added 1.24%, and the tech-heavy Nasdaq gained 0.65%.
Heading into today, shares of the personal computer and printer maker had lost 2.17% over the past month, lagging the Computer and Technology sector's gain of 0.37% and the S&P 500's gain of 1.17% in that time.
Market participants will be closely following the financial results of HP in its upcoming release. It is anticipated that the company will report an EPS of $0.74, marking an 8.64% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $13.48 billion, up 2.25% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.56 per share and a revenue of $55.11 billion, demonstrating changes of +5.33% and +2.89%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for HP. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, HP holds a Zacks Rank of #3 (Hold).
From a valuation perspective, HP is currently exchanging hands at a Forward P/E ratio of 9.14. This signifies a discount in comparison to the average Forward P/E of 12.84 for its industry.
We can also see that HPQ currently has a PEG ratio of 2.77. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Computer - Micro Computers industry had an average PEG ratio of 1.64.
The Computer - Micro Computers industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 182, placing it within the bottom 28% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.