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HP (HPQ) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, HP (HPQ - Free Report) closed at $37.89, marking a +1.39% move from the previous day. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow lost 0.16%, and the Nasdaq, a tech-heavy index, added 0.1%.
Coming into today, shares of the personal computer and printer maker had lost 0.69% in the past month. In that same time, the Computer and Technology sector lost 5.27%, while the S&P 500 lost 4.02%.
HP will be looking to display strength as it nears its next earnings release, which is expected to be February 28, 2022. On that day, HP is projected to report earnings of $1.03 per share, which would represent year-over-year growth of 11.96%. Our most recent consensus estimate is calling for quarterly revenue of $16.66 billion, up 6.45% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.16 per share and revenue of $66.03 billion, which would represent changes of +9.76% and +4.01%, respectively, from the prior year.
Any recent changes to analyst estimates for HP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% higher. HP is currently a Zacks Rank #2 (Buy).
Digging into valuation, HP currently has a Forward P/E ratio of 8.98. For comparison, its industry has an average Forward P/E of 18.55, which means HP is trading at a discount to the group.
Also, we should mention that HPQ has a PEG ratio of 3.5. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Mini computers industry currently had an average PEG ratio of 2.53 as of yesterday's close.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 41% 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.
To follow HPQ in the coming trading sessions, be sure to utilize Zacks.com.
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HP (HPQ) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, HP (HPQ - Free Report) closed at $37.89, marking a +1.39% move from the previous day. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow lost 0.16%, and the Nasdaq, a tech-heavy index, added 0.1%.
Coming into today, shares of the personal computer and printer maker had lost 0.69% in the past month. In that same time, the Computer and Technology sector lost 5.27%, while the S&P 500 lost 4.02%.
HP will be looking to display strength as it nears its next earnings release, which is expected to be February 28, 2022. On that day, HP is projected to report earnings of $1.03 per share, which would represent year-over-year growth of 11.96%. Our most recent consensus estimate is calling for quarterly revenue of $16.66 billion, up 6.45% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.16 per share and revenue of $66.03 billion, which would represent changes of +9.76% and +4.01%, respectively, from the prior year.
Any recent changes to analyst estimates for HP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% higher. HP is currently a Zacks Rank #2 (Buy).
Digging into valuation, HP currently has a Forward P/E ratio of 8.98. For comparison, its industry has an average Forward P/E of 18.55, which means HP is trading at a discount to the group.
Also, we should mention that HPQ has a PEG ratio of 3.5. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Mini computers industry currently had an average PEG ratio of 2.53 as of yesterday's close.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 41% 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.
To follow HPQ in the coming trading sessions, be sure to utilize Zacks.com.