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Dell Technologies (DELL) Ascends While Market Falls: Some Facts to Note
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In the latest market close, Dell Technologies (DELL - Free Report) reached $147.78, with a +0.37% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.27%. On the other hand, the Dow registered a loss of 0.51%, and the technology-centric Nasdaq decreased by 0.19%.
The computer and technology services provider's shares have seen an increase of 22.06% over the last month, surpassing the Computer and Technology sector's gain of 11.82% and the S&P 500's gain of 7.34%.
Market participants will be closely following the financial results of Dell Technologies in its upcoming release. The company plans to announce its earnings on May 30, 2024. The company is predicted to post an EPS of $1.21, indicating a 7.63% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $21.74 billion, reflecting a 3.93% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $7.77 per share and a revenue of $95.19 billion, demonstrating changes of +8.98% and +7.65%, respectively, from the preceding year.
Any recent changes to analyst estimates for Dell Technologies should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.47% higher. Dell Technologies is currently a Zacks Rank #2 (Buy).
In terms of valuation, Dell Technologies is currently trading at a Forward P/E ratio of 18.94. This represents a discount compared to its industry's average Forward P/E of 29.75.
It's also important to note that DELL currently trades at a PEG ratio of 1.99. 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 Computers - IT Services industry had an average PEG ratio of 2.95 as trading concluded yesterday.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 41% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Dell Technologies (DELL) Ascends While Market Falls: Some Facts to Note
In the latest market close, Dell Technologies (DELL - Free Report) reached $147.78, with a +0.37% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.27%. On the other hand, the Dow registered a loss of 0.51%, and the technology-centric Nasdaq decreased by 0.19%.
The computer and technology services provider's shares have seen an increase of 22.06% over the last month, surpassing the Computer and Technology sector's gain of 11.82% and the S&P 500's gain of 7.34%.
Market participants will be closely following the financial results of Dell Technologies in its upcoming release. The company plans to announce its earnings on May 30, 2024. The company is predicted to post an EPS of $1.21, indicating a 7.63% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $21.74 billion, reflecting a 3.93% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $7.77 per share and a revenue of $95.19 billion, demonstrating changes of +8.98% and +7.65%, respectively, from the preceding year.
Any recent changes to analyst estimates for Dell Technologies should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.47% higher. Dell Technologies is currently a Zacks Rank #2 (Buy).
In terms of valuation, Dell Technologies is currently trading at a Forward P/E ratio of 18.94. This represents a discount compared to its industry's average Forward P/E of 29.75.
It's also important to note that DELL currently trades at a PEG ratio of 1.99. 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 Computers - IT Services industry had an average PEG ratio of 2.95 as trading concluded yesterday.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 41% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.