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InterDigital (IDCC) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest market close, InterDigital (IDCC - Free Report) reached $104.75, with a -0.29% movement compared to the previous day. This change lagged the S&P 500's 1.25% gain on the day. On the other hand, the Dow registered a gain of 0.97%, and the technology-centric Nasdaq increased by 1.3%.
The the stock of wireless research and development company has risen by 0.31% in the past month, lagging the Computer and Technology sector's gain of 2.42% and the S&P 500's gain of 1.58%.
Market participants will be closely following the financial results of InterDigital in its upcoming release. The company plans to announce its earnings on February 15, 2024. The company's upcoming EPS is projected at $1.21, signifying a 12.04% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $104.31 million, reflecting a 10.89% fall from the equivalent quarter last year.
Any recent changes to analyst estimates for InterDigital should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. InterDigital is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that InterDigital has a Forward P/E ratio of 16.36 right now. This signifies a premium in comparison to the average Forward P/E of 14.54 for its industry.
Investors should also note that IDCC has a PEG ratio of 0.94 right now. 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. By the end of yesterday's trading, the Wireless Equipment industry had an average PEG ratio of 1.16.
The Wireless Equipment industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 98, positioning it in the top 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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InterDigital (IDCC) Stock Drops Despite Market Gains: Important Facts to Note
In the latest market close, InterDigital (IDCC - Free Report) reached $104.75, with a -0.29% movement compared to the previous day. This change lagged the S&P 500's 1.25% gain on the day. On the other hand, the Dow registered a gain of 0.97%, and the technology-centric Nasdaq increased by 1.3%.
The the stock of wireless research and development company has risen by 0.31% in the past month, lagging the Computer and Technology sector's gain of 2.42% and the S&P 500's gain of 1.58%.
Market participants will be closely following the financial results of InterDigital in its upcoming release. The company plans to announce its earnings on February 15, 2024. The company's upcoming EPS is projected at $1.21, signifying a 12.04% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $104.31 million, reflecting a 10.89% fall from the equivalent quarter last year.
Any recent changes to analyst estimates for InterDigital should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. InterDigital is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that InterDigital has a Forward P/E ratio of 16.36 right now. This signifies a premium in comparison to the average Forward P/E of 14.54 for its industry.
Investors should also note that IDCC has a PEG ratio of 0.94 right now. 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. By the end of yesterday's trading, the Wireless Equipment industry had an average PEG ratio of 1.16.
The Wireless Equipment industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 98, positioning it in the top 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.