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HP (HPQ) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, HP (HPQ - Free Report) closed at $27.58, marking a +1.92% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.63%. At the same time, the Dow added 1.07%, and the tech-heavy Nasdaq gained 0.3%.
Heading into today, shares of the personal computer and printer maker had gained 8.41% over the past month, outpacing the Computer and Technology sector's gain of 0.92% and the S&P 500's gain of 2.94% in that time.
HP will be looking to display strength as it nears its next earnings release. On that day, HP is projected to report earnings of $0.84 per share, which would represent a year-over-year decline of 10.64%. Our most recent consensus estimate is calling for quarterly revenue of $14.76 billion, down 11.51% from the year-ago period.
HPQ's full-year Zacks Consensus Estimates are calling for earnings of $4.08 per share and revenue of $62.94 billion. These results would represent year-over-year changes of +7.65% and -0.86%, respectively.
It is also important to note the recent changes to analyst estimates for HP. Recent revisions tend to reflect the latest 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. HP currently has a Zacks Rank of #4 (Sell).
Investors should also note HP's current valuation metrics, including its Forward P/E ratio of 6.63. For comparison, its industry has an average Forward P/E of 6.63, which means HP is trading at a no noticeable deviation to the group.
Investors should also note that HPQ has a PEG ratio of 2.42 right now. 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. Computer - Mini computers stocks are, on average, holding a PEG ratio of 2.13 based on yesterday's closing prices.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 239, which puts it in the bottom 6% 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.
To follow HPQ in the coming trading sessions, be sure to utilize Zacks.com.
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HP (HPQ) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, HP (HPQ - Free Report) closed at $27.58, marking a +1.92% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.63%. At the same time, the Dow added 1.07%, and the tech-heavy Nasdaq gained 0.3%.
Heading into today, shares of the personal computer and printer maker had gained 8.41% over the past month, outpacing the Computer and Technology sector's gain of 0.92% and the S&P 500's gain of 2.94% in that time.
HP will be looking to display strength as it nears its next earnings release. On that day, HP is projected to report earnings of $0.84 per share, which would represent a year-over-year decline of 10.64%. Our most recent consensus estimate is calling for quarterly revenue of $14.76 billion, down 11.51% from the year-ago period.
HPQ's full-year Zacks Consensus Estimates are calling for earnings of $4.08 per share and revenue of $62.94 billion. These results would represent year-over-year changes of +7.65% and -0.86%, respectively.
It is also important to note the recent changes to analyst estimates for HP. Recent revisions tend to reflect the latest 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. HP currently has a Zacks Rank of #4 (Sell).
Investors should also note HP's current valuation metrics, including its Forward P/E ratio of 6.63. For comparison, its industry has an average Forward P/E of 6.63, which means HP is trading at a no noticeable deviation to the group.
Investors should also note that HPQ has a PEG ratio of 2.42 right now. 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. Computer - Mini computers stocks are, on average, holding a PEG ratio of 2.13 based on yesterday's closing prices.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 239, which puts it in the bottom 6% 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.
To follow HPQ in the coming trading sessions, be sure to utilize Zacks.com.