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Here's Why Baidu Inc. (BIDU) Gained But Lagged the Market Today
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Baidu Inc. (BIDU - Free Report) ended the recent trading session at $100.52, demonstrating a +0.62% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 1.02%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 2.03%.
Shares of the web search company have depreciated by 5.11% over the course of the past month, outperforming the Computer and Technology sector's loss of 5.32% and lagging the S&P 500's loss of 3.15%.
The upcoming earnings release of Baidu Inc. will be of great interest to investors. The company's earnings report is expected on May 16, 2024. The company's earnings per share (EPS) are projected to be $2.30, reflecting a 1.71% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $4.31 billion, reflecting a 4.91% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.60 per share and a revenue of $20.25 billion, signifying shifts of +1.84% and +7.26%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.05% lower within the past month. Baidu Inc. is holding a Zacks Rank of #4 (Sell) right now.
In the context of valuation, Baidu Inc. is at present trading with a Forward P/E ratio of 8.61. This represents a discount compared to its industry's average Forward P/E of 24.36.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 40, this industry ranks in the top 16% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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 BIDU in the coming trading sessions, be sure to utilize Zacks.com.
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Here's Why Baidu Inc. (BIDU) Gained But Lagged the Market Today
Baidu Inc. (BIDU - Free Report) ended the recent trading session at $100.52, demonstrating a +0.62% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 1.02%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 2.03%.
Shares of the web search company have depreciated by 5.11% over the course of the past month, outperforming the Computer and Technology sector's loss of 5.32% and lagging the S&P 500's loss of 3.15%.
The upcoming earnings release of Baidu Inc. will be of great interest to investors. The company's earnings report is expected on May 16, 2024. The company's earnings per share (EPS) are projected to be $2.30, reflecting a 1.71% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $4.31 billion, reflecting a 4.91% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.60 per share and a revenue of $20.25 billion, signifying shifts of +1.84% and +7.26%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.05% lower within the past month. Baidu Inc. is holding a Zacks Rank of #4 (Sell) right now.
In the context of valuation, Baidu Inc. is at present trading with a Forward P/E ratio of 8.61. This represents a discount compared to its industry's average Forward P/E of 24.36.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 40, this industry ranks in the top 16% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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 BIDU in the coming trading sessions, be sure to utilize Zacks.com.