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InterDigital (IDCC) Surpasses Market Returns: Some Facts Worth Knowing
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InterDigital (IDCC - Free Report) closed the latest trading day at $106.42, indicating a +1.57% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 1.23%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 1.7%.
Shares of the wireless research and development company witnessed a loss of 5.69% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.98% and the S&P 500's gain of 0.94%.
Market participants will be closely following the financial results of InterDigital in its upcoming release. The company plans to announce its earnings on February 15, 2024. In that report, analysts expect InterDigital to post earnings of $1.21 per share. This would mark year-over-year growth of 12.04%. Alongside, our most recent consensus estimate is anticipating revenue of $104.31 million, indicating a 10.89% downward movement from the same quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for InterDigital. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. InterDigital presently features a Zacks Rank of #2 (Buy).
From a valuation perspective, InterDigital is currently exchanging hands at a Forward P/E ratio of 16.32. This denotes a premium relative to the industry's average Forward P/E of 14.52.
We can additionally observe that IDCC currently boasts a PEG ratio of 0.94. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Wireless Equipment industry was having an average PEG ratio of 1.45.
The Wireless Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 158, this industry ranks in the bottom 38% of all industries, numbering over 250.
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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InterDigital (IDCC) Surpasses Market Returns: Some Facts Worth Knowing
InterDigital (IDCC - Free Report) closed the latest trading day at $106.42, indicating a +1.57% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 1.23%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 1.7%.
Shares of the wireless research and development company witnessed a loss of 5.69% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.98% and the S&P 500's gain of 0.94%.
Market participants will be closely following the financial results of InterDigital in its upcoming release. The company plans to announce its earnings on February 15, 2024. In that report, analysts expect InterDigital to post earnings of $1.21 per share. This would mark year-over-year growth of 12.04%. Alongside, our most recent consensus estimate is anticipating revenue of $104.31 million, indicating a 10.89% downward movement from the same quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for InterDigital. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. InterDigital presently features a Zacks Rank of #2 (Buy).
From a valuation perspective, InterDigital is currently exchanging hands at a Forward P/E ratio of 16.32. This denotes a premium relative to the industry's average Forward P/E of 14.52.
We can additionally observe that IDCC currently boasts a PEG ratio of 0.94. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Wireless Equipment industry was having an average PEG ratio of 1.45.
The Wireless Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 158, this industry ranks in the bottom 38% of all industries, numbering over 250.
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.