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HP (HPQ) Stock Sinks As Market Gains: What You Should Know
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HP (HPQ - Free Report) closed at $31.01 in the latest trading session, marking a -0.77% move from the prior day. This move lagged the S&P 500's daily gain of 0.37%.
Prior to today's trading, shares of the personal computer and printer maker had gained 11.29% over the past month. This has outpaced the Computer and Technology sector's gain of 5.35% and the S&P 500's gain of 5.96% in that time.
Wall Street will be looking for positivity from HPQ as it approaches its next earnings report date. In that report, analysts expect HPQ to post earnings of $0.88 per share. This would mark year-over-year growth of 41.94%. Meanwhile, our latest consensus estimate is calling for revenue of $15.36 billion, up 0.66% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for HPQ. Recent revisions tend to reflect the latest near-term business trends. 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.61% higher. HPQ currently has a Zacks Rank of #2 (Buy).
Digging into valuation, HPQ currently has a Forward P/E ratio of 7.76. Its industry sports an average Forward P/E of 16.82, so we one might conclude that HPQ is trading at a discount comparatively.
Also, we should mention that HPQ has a PEG ratio of 0.61. 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. The Computer - Mini computers industry currently had an average PEG ratio of 1.11 as of yesterday's close.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 65, putting it in the top 26% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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HP (HPQ) Stock Sinks As Market Gains: What You Should Know
HP (HPQ - Free Report) closed at $31.01 in the latest trading session, marking a -0.77% move from the prior day. This move lagged the S&P 500's daily gain of 0.37%.
Prior to today's trading, shares of the personal computer and printer maker had gained 11.29% over the past month. This has outpaced the Computer and Technology sector's gain of 5.35% and the S&P 500's gain of 5.96% in that time.
Wall Street will be looking for positivity from HPQ as it approaches its next earnings report date. In that report, analysts expect HPQ to post earnings of $0.88 per share. This would mark year-over-year growth of 41.94%. Meanwhile, our latest consensus estimate is calling for revenue of $15.36 billion, up 0.66% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for HPQ. Recent revisions tend to reflect the latest near-term business trends. 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.61% higher. HPQ currently has a Zacks Rank of #2 (Buy).
Digging into valuation, HPQ currently has a Forward P/E ratio of 7.76. Its industry sports an average Forward P/E of 16.82, so we one might conclude that HPQ is trading at a discount comparatively.
Also, we should mention that HPQ has a PEG ratio of 0.61. 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. The Computer - Mini computers industry currently had an average PEG ratio of 1.11 as of yesterday's close.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 65, putting it in the top 26% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.