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HP (HPQ) Advances While Market Declines: Some Information for Investors
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In the latest trading session, HP (HPQ - Free Report) closed at $20.14, marking a +2.08% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.04%. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, added 0.04%.
Shares of the personal computer and printer maker witnessed a gain of 2.71% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 20.43%, and the S&P 500's gain of 12.24%.
The investment community will be closely monitoring the performance of HP in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.71, marking stability compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $14.05 billion, indicating a 6.26% growth compared to the corresponding quarter of the prior year.
HPQ's full-year Zacks Consensus Estimates are calling for earnings of $2.84 per share and revenue of $56.83 billion. These results would represent year-over-year changes of -8.97% and +2.77%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for HP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, HP is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that HP has a Forward P/E ratio of 6.96 right now. This indicates a discount in contrast to its industry's Forward P/E of 14.74.
It is also worth noting that HPQ currently has a PEG ratio of 5.48. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Computer - Micro Computers industry was having an average PEG ratio of 1.89.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 33, putting it in the top 14% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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HP (HPQ) Advances While Market Declines: Some Information for Investors
In the latest trading session, HP (HPQ - Free Report) closed at $20.14, marking a +2.08% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.04%. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, added 0.04%.
Shares of the personal computer and printer maker witnessed a gain of 2.71% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 20.43%, and the S&P 500's gain of 12.24%.
The investment community will be closely monitoring the performance of HP in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.71, marking stability compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $14.05 billion, indicating a 6.26% growth compared to the corresponding quarter of the prior year.
HPQ's full-year Zacks Consensus Estimates are calling for earnings of $2.84 per share and revenue of $56.83 billion. These results would represent year-over-year changes of -8.97% and +2.77%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for HP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, HP is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that HP has a Forward P/E ratio of 6.96 right now. This indicates a discount in contrast to its industry's Forward P/E of 14.74.
It is also worth noting that HPQ currently has a PEG ratio of 5.48. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Computer - Micro Computers industry was having an average PEG ratio of 1.89.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 33, putting it in the top 14% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.