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Why Dell Technologies (DELL) Dipped More Than Broader Market Today
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Dell Technologies (DELL - Free Report) closed the latest trading day at $146.28, indicating a -1.93% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.21%. Elsewhere, the Dow saw a downswing of 0.1%, while the tech-heavy Nasdaq depreciated by 0.26%.
Coming into today, shares of the computer and technology services provider had gained 24.69% in the past month. In that same time, the Computer and Technology sector gained 6.51%, while the S&P 500 gained 5.04%.
The investment community will be paying close attention to the earnings performance of Dell Technologies in its upcoming release. The company is slated to reveal its earnings on May 30, 2024. In that report, analysts expect Dell Technologies to post earnings of $1.20 per share. This would mark a year-over-year decline of 8.4%. Simultaneously, our latest consensus estimate expects the revenue to be $21.75 billion, showing a 3.96% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.64 per share and revenue of $93.7 billion, which would represent changes of +7.15% and +5.96%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Dell Technologies. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Dell Technologies boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Dell Technologies is at present trading with a Forward P/E ratio of 19.51. This expresses a discount compared to the average Forward P/E of 28.62 of its industry.
Investors should also note that DELL has a PEG ratio of 1.63 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Computers - IT Services industry currently had an average PEG ratio of 2.29 as of yesterday's close.
The Computers - IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 167, positioning it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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Why Dell Technologies (DELL) Dipped More Than Broader Market Today
Dell Technologies (DELL - Free Report) closed the latest trading day at $146.28, indicating a -1.93% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.21%. Elsewhere, the Dow saw a downswing of 0.1%, while the tech-heavy Nasdaq depreciated by 0.26%.
Coming into today, shares of the computer and technology services provider had gained 24.69% in the past month. In that same time, the Computer and Technology sector gained 6.51%, while the S&P 500 gained 5.04%.
The investment community will be paying close attention to the earnings performance of Dell Technologies in its upcoming release. The company is slated to reveal its earnings on May 30, 2024. In that report, analysts expect Dell Technologies to post earnings of $1.20 per share. This would mark a year-over-year decline of 8.4%. Simultaneously, our latest consensus estimate expects the revenue to be $21.75 billion, showing a 3.96% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.64 per share and revenue of $93.7 billion, which would represent changes of +7.15% and +5.96%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Dell Technologies. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Dell Technologies boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Dell Technologies is at present trading with a Forward P/E ratio of 19.51. This expresses a discount compared to the average Forward P/E of 28.62 of its industry.
Investors should also note that DELL has a PEG ratio of 1.63 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Computers - IT Services industry currently had an average PEG ratio of 2.29 as of yesterday's close.
The Computers - IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 167, positioning it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.