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HP (HPQ - Free Report) closed at $30.43 in the latest trading session, marking a -0.39% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.89%. At the same time, the Dow lost 0.63%, and the tech-heavy Nasdaq lost 0.26%.
Prior to today's trading, shares of the personal computer and printer maker had gained 20.09% over the past month. This has outpaced the Computer and Technology sector's gain of 10.6% and the S&P 500's gain of 11.42% in that time.
Investors will be hoping for strength from HP as it approaches its next earnings release, which is expected to be November 22, 2022. In that report, analysts expect HP to post earnings of $0.84 per share. This would mark a year-over-year decline of 10.64%. Our most recent consensus estimate is calling for quarterly revenue of $14.63 billion, down 12.26% from the year-ago period.
It is also important to note the recent changes to analyst estimates for HP. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 2.84% lower within the past month. HP is currently a Zacks Rank #4 (Sell).
Looking at its valuation, HP is holding a Forward P/E ratio of 8.4. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 8.4.
We can also see that HPQ currently has a PEG ratio of 3.07. 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 was holding an average PEG ratio of 2.48 at yesterday's closing price.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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HP (HPQ) Stock Moves -0.39%: What You Should Know
HP (HPQ - Free Report) closed at $30.43 in the latest trading session, marking a -0.39% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.89%. At the same time, the Dow lost 0.63%, and the tech-heavy Nasdaq lost 0.26%.
Prior to today's trading, shares of the personal computer and printer maker had gained 20.09% over the past month. This has outpaced the Computer and Technology sector's gain of 10.6% and the S&P 500's gain of 11.42% in that time.
Investors will be hoping for strength from HP as it approaches its next earnings release, which is expected to be November 22, 2022. In that report, analysts expect HP to post earnings of $0.84 per share. This would mark a year-over-year decline of 10.64%. Our most recent consensus estimate is calling for quarterly revenue of $14.63 billion, down 12.26% from the year-ago period.
It is also important to note the recent changes to analyst estimates for HP. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 2.84% lower within the past month. HP is currently a Zacks Rank #4 (Sell).
Looking at its valuation, HP is holding a Forward P/E ratio of 8.4. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 8.4.
We can also see that HPQ currently has a PEG ratio of 3.07. 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 was holding an average PEG ratio of 2.48 at yesterday's closing price.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.