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Futu Holdings Limited Sponsored ADR (FUTU) Gains As Market Dips: What You Should Know
In the latest trading session, Futu Holdings Limited Sponsored ADR (FUTU - Free Report) closed at $46.02, marking a +0.59% move from the previous day. This change outpaced the S&P 500's 1.65% loss on the day. At the same time, the Dow lost 1.63%, and the tech-heavy Nasdaq lost 6.65%.
Coming into today, shares of the company had lost 1.72% in the past month. In that same time, the Business Services sector lost 1.97%, while the S&P 500 gained 0.3%.
Wall Street will be looking for positivity from Futu Holdings Limited Sponsored ADR as it approaches its next earnings report date. This is expected to be March 28, 2023.
Any recent changes to analyst estimates for Futu Holdings Limited Sponsored ADR 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.
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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Futu Holdings Limited Sponsored ADR is currently a Zacks Rank #4 (Sell).
Investors should also note Futu Holdings Limited Sponsored ADR's current valuation metrics, including its Forward P/E ratio of 15.81. For comparison, its industry has an average Forward P/E of 21.35, which means Futu Holdings Limited Sponsored ADR is trading at a discount to the group.
Meanwhile, FUTU's PEG ratio is currently 7.32. 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. Technology Services stocks are, on average, holding a PEG ratio of 2.12 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.