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Meta Platforms (META) Surpasses Market Returns: Some Facts Worth Knowing
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In the latest trading session, Meta Platforms (META - Free Report) closed at $318.36, marking a +0.93% move from the previous day. This move outpaced the S&P 500's daily gain of 0.63%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, added 0.39%.
The social media company's stock has climbed by 5.89% in the past month, exceeding the Computer and Technology sector's loss of 2.3% and the S&P 500's loss of 3.39%.
The investment community will be paying close attention to the earnings performance of Meta Platforms in its upcoming release. The company is slated to reveal its earnings on October 25, 2023. It is anticipated that the company will report an EPS of $3.57, marking a 117.68% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $33.41 billion, up 20.55% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $13.34 per share and revenue of $132.79 billion. These totals would mark changes of +35.71% and +13.87%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Meta Platforms. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 1.58% rise in the Zacks Consensus EPS estimate. Right now, Meta Platforms possesses a Zacks Rank of #3 (Hold).
Investors should also note Meta Platforms's current valuation metrics, including its Forward P/E ratio of 23.65. This expresses a discount compared to the average Forward P/E of 37.56 of its industry.
Meanwhile, META's PEG ratio is currently 1.1. 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. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 1.52.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Meta Platforms (META) Surpasses Market Returns: Some Facts Worth Knowing
In the latest trading session, Meta Platforms (META - Free Report) closed at $318.36, marking a +0.93% move from the previous day. This move outpaced the S&P 500's daily gain of 0.63%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, added 0.39%.
The social media company's stock has climbed by 5.89% in the past month, exceeding the Computer and Technology sector's loss of 2.3% and the S&P 500's loss of 3.39%.
The investment community will be paying close attention to the earnings performance of Meta Platforms in its upcoming release. The company is slated to reveal its earnings on October 25, 2023. It is anticipated that the company will report an EPS of $3.57, marking a 117.68% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $33.41 billion, up 20.55% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $13.34 per share and revenue of $132.79 billion. These totals would mark changes of +35.71% and +13.87%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Meta Platforms. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 1.58% rise in the Zacks Consensus EPS estimate. Right now, Meta Platforms possesses a Zacks Rank of #3 (Hold).
Investors should also note Meta Platforms's current valuation metrics, including its Forward P/E ratio of 23.65. This expresses a discount compared to the average Forward P/E of 37.56 of its industry.
Meanwhile, META's PEG ratio is currently 1.1. 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. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 1.52.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.