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Alphabet Inc. (GOOG) Laps the Stock Market: Here's Why
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In the latest close session, Alphabet Inc. (GOOG - Free Report) was up +2.12% at $303.96. The stock outperformed the S&P 500, which registered a daily gain of 0.08%. Elsewhere, the Dow lost 0.18%, while the tech-heavy Nasdaq added 0.1%.
Prior to today's trading, shares of the company had lost 2.73% was narrower than the Computer and Technology sector's loss of 2.82% and lagged the S&P 500's loss of 1.74%.
The investment community will be closely monitoring the performance of Alphabet Inc. in its forthcoming earnings report. On that day, Alphabet Inc. is projected to report earnings of $2.76 per share, which would represent a year-over-year decline of 1.78%. Meanwhile, the latest consensus estimate predicts the revenue to be $91.69 billion, indicating a 19.88% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $11.61 per share and revenue of $407.2 billion, which would represent changes of +7.4% and +18.75%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Alphabet Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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, there's been a 0.02% rise in the Zacks Consensus EPS estimate. Right now, Alphabet Inc. possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Alphabet Inc. is currently being traded at a Forward P/E ratio of 25.65. This signifies a premium in comparison to the average Forward P/E of 14.01 for its industry.
Meanwhile, GOOG's PEG ratio is currently 1.82. 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. The Internet - Services was holding an average PEG ratio of 1.89 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 180, finds itself in the bottom 27% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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Alphabet Inc. (GOOG) Laps the Stock Market: Here's Why
In the latest close session, Alphabet Inc. (GOOG - Free Report) was up +2.12% at $303.96. The stock outperformed the S&P 500, which registered a daily gain of 0.08%. Elsewhere, the Dow lost 0.18%, while the tech-heavy Nasdaq added 0.1%.
Prior to today's trading, shares of the company had lost 2.73% was narrower than the Computer and Technology sector's loss of 2.82% and lagged the S&P 500's loss of 1.74%.
The investment community will be closely monitoring the performance of Alphabet Inc. in its forthcoming earnings report. On that day, Alphabet Inc. is projected to report earnings of $2.76 per share, which would represent a year-over-year decline of 1.78%. Meanwhile, the latest consensus estimate predicts the revenue to be $91.69 billion, indicating a 19.88% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $11.61 per share and revenue of $407.2 billion, which would represent changes of +7.4% and +18.75%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Alphabet Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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, there's been a 0.02% rise in the Zacks Consensus EPS estimate. Right now, Alphabet Inc. possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Alphabet Inc. is currently being traded at a Forward P/E ratio of 25.65. This signifies a premium in comparison to the average Forward P/E of 14.01 for its industry.
Meanwhile, GOOG's PEG ratio is currently 1.82. 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. The Internet - Services was holding an average PEG ratio of 1.89 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 180, finds itself in the bottom 27% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.