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Baidu Inc. (BIDU) Stock Moves -0.21%: What You Should Know
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In the latest market close, Baidu Inc. (BIDU - Free Report) reached $90.90, with a -0.21% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 0.78%. Elsewhere, the Dow saw a downswing of 1.29%, while the tech-heavy Nasdaq depreciated by 0.7%.
The web search company's stock has climbed by 0.24% in the past month, exceeding the Computer and Technology sector's loss of 3.17% and lagging the S&P 500's gain of 2.14%.
Analysts and investors alike will be keeping a close eye on the performance of Baidu Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on August 22, 2024. In that report, analysts expect Baidu Inc. to post earnings of $2.87 per share. This would mark a year-over-year decline of 7.72%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.86 billion, up 3.42% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.43 per share and a revenue of $19.38 billion, representing changes of +0.35% and +2.66%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Baidu Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, the Zacks Consensus EPS estimate remained stagnant. Baidu Inc. presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Baidu Inc. is currently exchanging hands at a Forward P/E ratio of 7.97. This expresses a discount compared to the average Forward P/E of 23.79 of its industry.
The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 86, placing it within the top 35% of over 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.
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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Baidu Inc. (BIDU) Stock Moves -0.21%: What You Should Know
In the latest market close, Baidu Inc. (BIDU - Free Report) reached $90.90, with a -0.21% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 0.78%. Elsewhere, the Dow saw a downswing of 1.29%, while the tech-heavy Nasdaq depreciated by 0.7%.
The web search company's stock has climbed by 0.24% in the past month, exceeding the Computer and Technology sector's loss of 3.17% and lagging the S&P 500's gain of 2.14%.
Analysts and investors alike will be keeping a close eye on the performance of Baidu Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on August 22, 2024. In that report, analysts expect Baidu Inc. to post earnings of $2.87 per share. This would mark a year-over-year decline of 7.72%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.86 billion, up 3.42% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.43 per share and a revenue of $19.38 billion, representing changes of +0.35% and +2.66%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Baidu Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, the Zacks Consensus EPS estimate remained stagnant. Baidu Inc. presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Baidu Inc. is currently exchanging hands at a Forward P/E ratio of 7.97. This expresses a discount compared to the average Forward P/E of 23.79 of its industry.
The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 86, placing it within the top 35% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.