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Alphabet Inc. (GOOG) Gains As Market Dips: What You Should Know
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Alphabet Inc. (GOOG - Free Report) closed at $91.66 in the latest trading session, marking a +0.71% move from the prior day. This move outpaced the S&P 500's daily loss of 0.15%. Elsewhere, the Dow lost 0.28%, while the tech-heavy Nasdaq added 3.16%.
Coming into today, shares of the company had lost 4.06% in the past month. In that same time, the Computer and Technology sector lost 3.13%, while the S&P 500 lost 5.39%.
Alphabet Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.09, down 11.38% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $56.89 billion, up 1.56% from the prior-year quarter.
GOOG's full-year Zacks Consensus Estimates are calling for earnings of $5.12 per share and revenue of $246.7 billion. These results would represent year-over-year changes of +12.28% and +5.48%, respectively.
Any recent changes to analyst estimates for Alphabet Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.51% lower. Alphabet Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Alphabet Inc. is holding a Forward P/E ratio of 17.77. For comparison, its industry has an average Forward P/E of 24.98, which means Alphabet Inc. is trading at a discount to the group.
We can also see that GOOG currently has a PEG ratio of 1.26. 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. Internet - Services stocks are, on average, holding a PEG ratio of 1.26 based on yesterday's closing prices.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Gains As Market Dips: What You Should Know
Alphabet Inc. (GOOG - Free Report) closed at $91.66 in the latest trading session, marking a +0.71% move from the prior day. This move outpaced the S&P 500's daily loss of 0.15%. Elsewhere, the Dow lost 0.28%, while the tech-heavy Nasdaq added 3.16%.
Coming into today, shares of the company had lost 4.06% in the past month. In that same time, the Computer and Technology sector lost 3.13%, while the S&P 500 lost 5.39%.
Alphabet Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.09, down 11.38% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $56.89 billion, up 1.56% from the prior-year quarter.
GOOG's full-year Zacks Consensus Estimates are calling for earnings of $5.12 per share and revenue of $246.7 billion. These results would represent year-over-year changes of +12.28% and +5.48%, respectively.
Any recent changes to analyst estimates for Alphabet Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.51% lower. Alphabet Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Alphabet Inc. is holding a Forward P/E ratio of 17.77. For comparison, its industry has an average Forward P/E of 24.98, which means Alphabet Inc. is trading at a discount to the group.
We can also see that GOOG currently has a PEG ratio of 1.26. 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. Internet - Services stocks are, on average, holding a PEG ratio of 1.26 based on yesterday's closing prices.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.