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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 $28.75, marking a +1.63% move from the previous day. This move outpaced the S&P 500's daily gain of 0.96%. Meanwhile, the Dow gained 1.31%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Coming into today, shares of the personal computer and printer maker had gained 12.98% in the past month. In that same time, the Computer and Technology sector lost 7.82%, while the S&P 500 lost 0.41%.
Investors will be hoping for strength from HP as it approaches its next earnings release, which is expected to be November 22, 2022. In that report, analysts expect HP to post earnings of $0.84 per share. This would mark a year-over-year decline of 10.64%. Meanwhile, our latest consensus estimate is calling for revenue of $14.7 billion, down 11.86% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for HP. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 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. The Zacks Consensus EPS estimate has moved 3.48% lower within the past month. HP is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that HP has a Forward P/E ratio of 7.78 right now. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 7.78.
Also, we should mention that HPQ has a PEG ratio of 2.84. 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 Computer - Mini computers was holding an average PEG ratio of 2.3 at yesterday's closing price.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 236, putting it in the bottom 7% 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 $28.75, marking a +1.63% move from the previous day. This move outpaced the S&P 500's daily gain of 0.96%. Meanwhile, the Dow gained 1.31%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Coming into today, shares of the personal computer and printer maker had gained 12.98% in the past month. In that same time, the Computer and Technology sector lost 7.82%, while the S&P 500 lost 0.41%.
Investors will be hoping for strength from HP as it approaches its next earnings release, which is expected to be November 22, 2022. In that report, analysts expect HP to post earnings of $0.84 per share. This would mark a year-over-year decline of 10.64%. Meanwhile, our latest consensus estimate is calling for revenue of $14.7 billion, down 11.86% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for HP. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 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. The Zacks Consensus EPS estimate has moved 3.48% lower within the past month. HP is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that HP has a Forward P/E ratio of 7.78 right now. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 7.78.
Also, we should mention that HPQ has a PEG ratio of 2.84. 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 Computer - Mini computers was holding an average PEG ratio of 2.3 at yesterday's closing price.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 236, putting it in the bottom 7% 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.