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Paychex (PAYX) Stock Moves -0.09%: What You Should Know
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In the latest trading session, Paychex (PAYX - Free Report) closed at $122.19, marking a -0.09% move from the previous day. This change was narrower than the S&P 500's 0.43% loss on the day. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, lost 0.62%.
Coming into today, shares of the payroll processor and human-resources services provider had lost 1.47% in the past month. In that same time, the Business Services sector lost 11.78%, while the S&P 500 lost 6.57%.
Wall Street will be looking for positivity from Paychex as it approaches its next earnings report date. On that day, Paychex is projected to report earnings of $1.04 per share, which would represent year-over-year growth of 8.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.22 billion, up 9.85% from the year-ago period.
PAYX's full-year Zacks Consensus Estimates are calling for earnings of $3.64 per share and revenue of $4.51 billion. These results would represent year-over-year changes of +19.74% and +11.16%, respectively.
Any recent changes to analyst estimates for Paychex 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Paychex is currently a Zacks Rank #2 (Buy).
In terms of valuation, Paychex is currently trading at a Forward P/E ratio of 33.65. This represents a premium compared to its industry's average Forward P/E of 14.96.
Meanwhile, PAYX's PEG ratio is currently 4.49. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Outsourcing was holding an average PEG ratio of 1.18 at yesterday's closing price.
The Outsourcing industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% 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.
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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Paychex (PAYX) Stock Moves -0.09%: What You Should Know
In the latest trading session, Paychex (PAYX - Free Report) closed at $122.19, marking a -0.09% move from the previous day. This change was narrower than the S&P 500's 0.43% loss on the day. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, lost 0.62%.
Coming into today, shares of the payroll processor and human-resources services provider had lost 1.47% in the past month. In that same time, the Business Services sector lost 11.78%, while the S&P 500 lost 6.57%.
Wall Street will be looking for positivity from Paychex as it approaches its next earnings report date. On that day, Paychex is projected to report earnings of $1.04 per share, which would represent year-over-year growth of 8.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.22 billion, up 9.85% from the year-ago period.
PAYX's full-year Zacks Consensus Estimates are calling for earnings of $3.64 per share and revenue of $4.51 billion. These results would represent year-over-year changes of +19.74% and +11.16%, respectively.
Any recent changes to analyst estimates for Paychex 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Paychex is currently a Zacks Rank #2 (Buy).
In terms of valuation, Paychex is currently trading at a Forward P/E ratio of 33.65. This represents a premium compared to its industry's average Forward P/E of 14.96.
Meanwhile, PAYX's PEG ratio is currently 4.49. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Outsourcing was holding an average PEG ratio of 1.18 at yesterday's closing price.
The Outsourcing industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.