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Alphabet Inc. (GOOG) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest trading session, Alphabet Inc. (GOOG - Free Report) closed at $164.04, marking a -1.85% move from the previous day. This change lagged the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.37%, and the Nasdaq, a tech-heavy index, lost 0.53%.
The company's stock has dropped by 4.33% in the past month, exceeding the Computer and Technology sector's loss of 7.14% and lagging the S&P 500's loss of 4.03%.
Investors will be eagerly watching for the performance of Alphabet Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $2.04, showcasing a 7.94% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $75.67 billion, up 11.94% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.89 per share and a revenue of $334.55 billion, representing changes of +10.57% and +13.36%, respectively, from the prior year.
Any recent changes to analyst estimates for Alphabet Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.02% higher. At present, Alphabet Inc. boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Alphabet Inc. has a Forward P/E ratio of 18.8 right now. Its industry sports an average Forward P/E of 21.63, so one might conclude that Alphabet Inc. is trading at a discount comparatively.
It is also worth noting that GOOG currently has a PEG ratio of 1.2. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 1.31.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 131, putting it in the bottom 48% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Alphabet Inc. (GOOG) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest trading session, Alphabet Inc. (GOOG - Free Report) closed at $164.04, marking a -1.85% move from the previous day. This change lagged the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.37%, and the Nasdaq, a tech-heavy index, lost 0.53%.
The company's stock has dropped by 4.33% in the past month, exceeding the Computer and Technology sector's loss of 7.14% and lagging the S&P 500's loss of 4.03%.
Investors will be eagerly watching for the performance of Alphabet Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $2.04, showcasing a 7.94% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $75.67 billion, up 11.94% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.89 per share and a revenue of $334.55 billion, representing changes of +10.57% and +13.36%, respectively, from the prior year.
Any recent changes to analyst estimates for Alphabet Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.02% higher. At present, Alphabet Inc. boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Alphabet Inc. has a Forward P/E ratio of 18.8 right now. Its industry sports an average Forward P/E of 21.63, so one might conclude that Alphabet Inc. is trading at a discount comparatively.
It is also worth noting that GOOG currently has a PEG ratio of 1.2. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 1.31.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 131, putting it in the bottom 48% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.