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Meta Platforms (META) Declines More Than Market: Some Information for Investors
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In the latest trading session, Meta Platforms (META - Free Report) closed at $519.25, marking a -1.53% move from the previous day. This change lagged the S&P 500's 0.04% loss on the day. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq gained 0.03%.
Shares of the social media company witnessed a gain of 4.23% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 4.26% and outperforming the S&P 500's gain of 2.57%.
The investment community will be closely monitoring the performance of Meta Platforms in its forthcoming earnings report. The company is scheduled to release its earnings on April 24, 2024. The company is predicted to post an EPS of $4.27, indicating a 61.74% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $36.07 billion, indicating a 25.94% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $19.94 per share and a revenue of $158.75 billion, signifying shifts of +34.1% and +17.68%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Meta Platforms. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Meta Platforms is carrying a Zacks Rank of #2 (Buy).
Looking at its valuation, Meta Platforms is holding a Forward P/E ratio of 26.45. This valuation marks a discount compared to its industry's average Forward P/E of 28.21.
We can also see that META currently has a PEG ratio of 1.36. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 1.86 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 37, this industry ranks in the top 15% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Meta Platforms (META) Declines More Than Market: Some Information for Investors
In the latest trading session, Meta Platforms (META - Free Report) closed at $519.25, marking a -1.53% move from the previous day. This change lagged the S&P 500's 0.04% loss on the day. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq gained 0.03%.
Shares of the social media company witnessed a gain of 4.23% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 4.26% and outperforming the S&P 500's gain of 2.57%.
The investment community will be closely monitoring the performance of Meta Platforms in its forthcoming earnings report. The company is scheduled to release its earnings on April 24, 2024. The company is predicted to post an EPS of $4.27, indicating a 61.74% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $36.07 billion, indicating a 25.94% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $19.94 per share and a revenue of $158.75 billion, signifying shifts of +34.1% and +17.68%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Meta Platforms. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Meta Platforms is carrying a Zacks Rank of #2 (Buy).
Looking at its valuation, Meta Platforms is holding a Forward P/E ratio of 26.45. This valuation marks a discount compared to its industry's average Forward P/E of 28.21.
We can also see that META currently has a PEG ratio of 1.36. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 1.86 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 37, this industry ranks in the top 15% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.