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Baidu Inc. (BIDU) Declines More Than Market: Some Information for Investors
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Baidu Inc. (BIDU - Free Report) ended the recent trading session at $105.54, demonstrating a -1.47% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.6%. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.92%.
The the stock of web search company has risen by 7.42% in the past month, leading the Computer and Technology sector's gain of 3.1% and the S&P 500's gain of 3.56%.
Market participants will be closely following the financial results of Baidu Inc. in its upcoming release. The company plans to announce its earnings on February 28, 2024. The company's upcoming EPS is projected at $2.75, signifying a 24.43% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.92 billion, showing a 2.68% escalation compared to the year-ago quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Baidu Inc. 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. Baidu Inc. presently features a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Baidu Inc. has a Forward P/E ratio of 8.08 right now. This represents a discount compared to its industry's average Forward P/E of 28.28.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 152, this industry ranks in the bottom 40% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Baidu Inc. (BIDU) Declines More Than Market: Some Information for Investors
Baidu Inc. (BIDU - Free Report) ended the recent trading session at $105.54, demonstrating a -1.47% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.6%. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.92%.
The the stock of web search company has risen by 7.42% in the past month, leading the Computer and Technology sector's gain of 3.1% and the S&P 500's gain of 3.56%.
Market participants will be closely following the financial results of Baidu Inc. in its upcoming release. The company plans to announce its earnings on February 28, 2024. The company's upcoming EPS is projected at $2.75, signifying a 24.43% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.92 billion, showing a 2.68% escalation compared to the year-ago quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Baidu Inc. 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. Baidu Inc. presently features a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Baidu Inc. has a Forward P/E ratio of 8.08 right now. This represents a discount compared to its industry's average Forward P/E of 28.28.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 152, this industry ranks in the bottom 40% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.