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HP (HPQ) Outperforms Broader Market: What You Need to Know
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HP (HPQ - Free Report) closed the most recent trading day at $37.43, moving +1.93% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.39%. Elsewhere, the Dow saw a downswing of 0.13%, while the tech-heavy Nasdaq appreciated by 0.6%.
Prior to today's trading, shares of the personal computer and printer maker had lost 1.5% over the past month. This has lagged the Computer and Technology sector's gain of 0.59% and the S&P 500's gain of 1.06% in that time.
Investors will be eagerly watching for the performance of HP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 26, 2024. The company is expected to report EPS of $0.93, up 3.33% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $13.96 billion, indicating a 1% increase compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for HP. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, HP holds a Zacks Rank of #4 (Sell).
With respect to valuation, HP is currently being traded at a Forward P/E ratio of 10.18. This signifies a discount in comparison to the average Forward P/E of 14.59 for its industry.
We can also see that HPQ currently has a PEG ratio of 2.51. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Computer - Micro Computers industry currently had an average PEG ratio of 1.71 as of yesterday's close.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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HP (HPQ) Outperforms Broader Market: What You Need to Know
HP (HPQ - Free Report) closed the most recent trading day at $37.43, moving +1.93% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.39%. Elsewhere, the Dow saw a downswing of 0.13%, while the tech-heavy Nasdaq appreciated by 0.6%.
Prior to today's trading, shares of the personal computer and printer maker had lost 1.5% over the past month. This has lagged the Computer and Technology sector's gain of 0.59% and the S&P 500's gain of 1.06% in that time.
Investors will be eagerly watching for the performance of HP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 26, 2024. The company is expected to report EPS of $0.93, up 3.33% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $13.96 billion, indicating a 1% increase compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for HP. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, HP holds a Zacks Rank of #4 (Sell).
With respect to valuation, HP is currently being traded at a Forward P/E ratio of 10.18. This signifies a discount in comparison to the average Forward P/E of 14.59 for its industry.
We can also see that HPQ currently has a PEG ratio of 2.51. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Computer - Micro Computers industry currently had an average PEG ratio of 1.71 as of yesterday's close.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.