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Alphabet Inc. (GOOG) Dips More Than Broader Markets: What You Should Know
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Alphabet Inc. (GOOG - Free Report) closed at $98.05 in the latest trading session, marking a -0.67% move from the prior day. This move lagged the S&P 500's daily loss of 0.65%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq added 0.07%.
Heading into today, shares of the company had lost 11.76% over the past month, outpacing the Computer and Technology sector's loss of 13.29% and lagging the S&P 500's loss of 11.07% in that time.
Investors will be hoping for strength from Alphabet Inc. as it approaches its next earnings release, which is expected to be October 25, 2022. On that day, Alphabet Inc. is projected to report earnings of $1.25 per share, which would represent a year-over-year decline of 10.71%. Our most recent consensus estimate is calling for quarterly revenue of $58.35 billion, up 8.83% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.21 per share and revenue of $236.72 billion. These totals would mark changes of -7.13% and +11.63%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Alphabet Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.03% lower. Alphabet Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note Alphabet Inc.'s current valuation metrics, including its Forward P/E ratio of 18.95. Its industry sports an average Forward P/E of 19.69, so we one might conclude that Alphabet Inc. is trading at a discount comparatively.
Meanwhile, GOOG's PEG ratio is currently 1.68. 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. Internet - Services stocks are, on average, holding a PEG ratio of 1.67 based on yesterday's closing prices.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% 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.
To follow GOOG in the coming trading sessions, be sure to utilize Zacks.com.
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Alphabet Inc. (GOOG) Dips More Than Broader Markets: What You Should Know
Alphabet Inc. (GOOG - Free Report) closed at $98.05 in the latest trading session, marking a -0.67% move from the prior day. This move lagged the S&P 500's daily loss of 0.65%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq added 0.07%.
Heading into today, shares of the company had lost 11.76% over the past month, outpacing the Computer and Technology sector's loss of 13.29% and lagging the S&P 500's loss of 11.07% in that time.
Investors will be hoping for strength from Alphabet Inc. as it approaches its next earnings release, which is expected to be October 25, 2022. On that day, Alphabet Inc. is projected to report earnings of $1.25 per share, which would represent a year-over-year decline of 10.71%. Our most recent consensus estimate is calling for quarterly revenue of $58.35 billion, up 8.83% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.21 per share and revenue of $236.72 billion. These totals would mark changes of -7.13% and +11.63%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Alphabet Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.03% lower. Alphabet Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note Alphabet Inc.'s current valuation metrics, including its Forward P/E ratio of 18.95. Its industry sports an average Forward P/E of 19.69, so we one might conclude that Alphabet Inc. is trading at a discount comparatively.
Meanwhile, GOOG's PEG ratio is currently 1.68. 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. Internet - Services stocks are, on average, holding a PEG ratio of 1.67 based on yesterday's closing prices.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% 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.
To follow GOOG in the coming trading sessions, be sure to utilize Zacks.com.