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HP (HPQ) Outpaces Stock Market Gains: What You Should Know
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HP (HPQ - Free Report) closed the most recent trading day at $37.06, moving +1.17% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.57%. Elsewhere, the Dow gained 0.26%, while the tech-heavy Nasdaq added 0.17%.
Prior to today's trading, shares of the personal computer and printer maker had gained 2.89% over the past month. This has outpaced the Computer and Technology sector's loss of 16.16% and the S&P 500's loss of 10.81% in that time.
HP will be looking to display strength as it nears its next earnings release. In that report, analysts expect HP to post earnings of $1.06 per share. This would mark year-over-year growth of 13.98%. Our most recent consensus estimate is calling for quarterly revenue of $16.1 billion, up 1.43% from the year-ago period.
HPQ's full-year Zacks Consensus Estimates are calling for earnings of $4.27 per share and revenue of $65.53 billion. These results would represent year-over-year changes of +12.66% and +3.22%, respectively.
It is also important to note the recent changes to analyst estimates for HP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. HP is currently a Zacks Rank #3 (Hold).
In terms of valuation, HP is currently trading at a Forward P/E ratio of 8.58. Its industry sports an average Forward P/E of 17.1, so we one might conclude that HP is trading at a discount comparatively.
Investors should also note that HPQ has a PEG ratio of 2.14 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HPQ's industry had an average PEG ratio of 2.1 as of yesterday's close.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 229, which puts it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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HP (HPQ) Outpaces Stock Market Gains: What You Should Know
HP (HPQ - Free Report) closed the most recent trading day at $37.06, moving +1.17% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.57%. Elsewhere, the Dow gained 0.26%, while the tech-heavy Nasdaq added 0.17%.
Prior to today's trading, shares of the personal computer and printer maker had gained 2.89% over the past month. This has outpaced the Computer and Technology sector's loss of 16.16% and the S&P 500's loss of 10.81% in that time.
HP will be looking to display strength as it nears its next earnings release. In that report, analysts expect HP to post earnings of $1.06 per share. This would mark year-over-year growth of 13.98%. Our most recent consensus estimate is calling for quarterly revenue of $16.1 billion, up 1.43% from the year-ago period.
HPQ's full-year Zacks Consensus Estimates are calling for earnings of $4.27 per share and revenue of $65.53 billion. These results would represent year-over-year changes of +12.66% and +3.22%, respectively.
It is also important to note the recent changes to analyst estimates for HP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. HP is currently a Zacks Rank #3 (Hold).
In terms of valuation, HP is currently trading at a Forward P/E ratio of 8.58. Its industry sports an average Forward P/E of 17.1, so we one might conclude that HP is trading at a discount comparatively.
Investors should also note that HPQ has a PEG ratio of 2.14 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HPQ's industry had an average PEG ratio of 2.1 as of yesterday's close.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 229, which puts it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.