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Baidu Inc. (BIDU) Stock Sinks As Market Gains: What You Should Know
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Baidu Inc. (BIDU - Free Report) closed at $139.51 in the latest trading session, marking a -0.61% move from the prior day. This change lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.45%, and the tech-heavy Nasdaq lost 0.46%.
Coming into today, shares of the web search company had gained 0.19% in the past month. In that same time, the Computer and Technology sector gained 14.05%, while the S&P 500 gained 12.15%.
Wall Street will be looking for positivity from Baidu Inc. as it approaches its next earnings report date. This is expected to be August 30, 2022. On that day, Baidu Inc. is projected to report earnings of $1.63 per share, which would represent a year-over-year decline of 31.8%. Meanwhile, our latest consensus estimate is calling for revenue of $4.12 billion, down 15.2% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.88 per share and revenue of $19.67 billion, which would represent changes of -6.19% and +1.93%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Baidu Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 10.55% lower. Baidu Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Baidu Inc. currently has a Forward P/E ratio of 17.81. Its industry sports an average Forward P/E of 23.33, so we one might conclude that Baidu Inc. is trading at a discount comparatively.
It is also worth noting that BIDU currently has a PEG ratio of 0.85. 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 Internet - Services industry currently had an average PEG ratio of 2.53 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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 BIDU in the coming trading sessions, be sure to utilize Zacks.com.
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Baidu Inc. (BIDU) Stock Sinks As Market Gains: What You Should Know
Baidu Inc. (BIDU - Free Report) closed at $139.51 in the latest trading session, marking a -0.61% move from the prior day. This change lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.45%, and the tech-heavy Nasdaq lost 0.46%.
Coming into today, shares of the web search company had gained 0.19% in the past month. In that same time, the Computer and Technology sector gained 14.05%, while the S&P 500 gained 12.15%.
Wall Street will be looking for positivity from Baidu Inc. as it approaches its next earnings report date. This is expected to be August 30, 2022. On that day, Baidu Inc. is projected to report earnings of $1.63 per share, which would represent a year-over-year decline of 31.8%. Meanwhile, our latest consensus estimate is calling for revenue of $4.12 billion, down 15.2% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.88 per share and revenue of $19.67 billion, which would represent changes of -6.19% and +1.93%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Baidu Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 10.55% lower. Baidu Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Baidu Inc. currently has a Forward P/E ratio of 17.81. Its industry sports an average Forward P/E of 23.33, so we one might conclude that Baidu Inc. is trading at a discount comparatively.
It is also worth noting that BIDU currently has a PEG ratio of 0.85. 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 Internet - Services industry currently had an average PEG ratio of 2.53 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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 BIDU in the coming trading sessions, be sure to utilize Zacks.com.