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HP (HPQ - Free Report) ended the recent trading session at $38.11, demonstrating a +0.29% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 1.39% for the day. Elsewhere, the Dow saw an upswing of 0.6%, while the tech-heavy Nasdaq depreciated by 2.77%.
Coming into today, shares of the personal computer and printer maker had gained 3.4% in the past month. In that same time, the Computer and Technology sector gained 1.25%, while the S&P 500 gained 4.43%.
The investment community will be closely monitoring the performance of HP in its forthcoming earnings report. In that report, analysts expect HP to post earnings of $0.86 per share. This would mark no growth from the year-ago period. Alongside, our most recent consensus estimate is anticipating revenue of $13.31 billion, indicating a 0.85% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.45 per share and a revenue of $53.59 billion, representing changes of +5.18% and -0.31%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for HP. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. HP is currently a Zacks Rank #3 (Hold).
Digging into valuation, HP currently has a Forward P/E ratio of 11.03. This indicates a discount in contrast to its industry's Forward P/E of 11.12.
It's also important to note that HPQ currently trades at a PEG ratio of 2.42. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Computer - Mini computers stocks are, on average, holding a PEG ratio of 2.42 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 20, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Why the Market Dipped But HP (HPQ) Gained Today
HP (HPQ - Free Report) ended the recent trading session at $38.11, demonstrating a +0.29% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 1.39% for the day. Elsewhere, the Dow saw an upswing of 0.6%, while the tech-heavy Nasdaq depreciated by 2.77%.
Coming into today, shares of the personal computer and printer maker had gained 3.4% in the past month. In that same time, the Computer and Technology sector gained 1.25%, while the S&P 500 gained 4.43%.
The investment community will be closely monitoring the performance of HP in its forthcoming earnings report. In that report, analysts expect HP to post earnings of $0.86 per share. This would mark no growth from the year-ago period. Alongside, our most recent consensus estimate is anticipating revenue of $13.31 billion, indicating a 0.85% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.45 per share and a revenue of $53.59 billion, representing changes of +5.18% and -0.31%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for HP. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. HP is currently a Zacks Rank #3 (Hold).
Digging into valuation, HP currently has a Forward P/E ratio of 11.03. This indicates a discount in contrast to its industry's Forward P/E of 11.12.
It's also important to note that HPQ currently trades at a PEG ratio of 2.42. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Computer - Mini computers stocks are, on average, holding a PEG ratio of 2.42 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 20, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.