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Baidu Inc. (BIDU) Stock Moves -0.58%: What You Should Know
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Baidu Inc. (BIDU - Free Report) closed the latest trading day at $90.37, indicating a -0.58% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.71%. Elsewhere, the Dow saw a downswing of 0.93%, while the tech-heavy Nasdaq depreciated by 0.81%.
Shares of the web search company have appreciated by 2.35% over the course of the past month, outperforming the Computer and Technology sector's loss of 3.88% and the S&P 500's gain of 1.08%.
Market participants will be closely following the financial results of Baidu Inc. in its upcoming release. The company plans to announce its earnings 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%. Simultaneously, our latest consensus estimate expects the revenue to be $4.86 billion, showing a 3.42% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.43 per share and a revenue of $19.23 billion, indicating changes of +0.35% and +1.87%, respectively, from the former year.
Any recent changes to analyst estimates for Baidu Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Baidu Inc. possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Baidu Inc. is currently trading at a Forward P/E ratio of 7.95. For comparison, its industry has an average Forward P/E of 23.35, which means Baidu Inc. is trading at a discount to the group.
The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 80, placing it within the top 32% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Baidu Inc. (BIDU) Stock Moves -0.58%: What You Should Know
Baidu Inc. (BIDU - Free Report) closed the latest trading day at $90.37, indicating a -0.58% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.71%. Elsewhere, the Dow saw a downswing of 0.93%, while the tech-heavy Nasdaq depreciated by 0.81%.
Shares of the web search company have appreciated by 2.35% over the course of the past month, outperforming the Computer and Technology sector's loss of 3.88% and the S&P 500's gain of 1.08%.
Market participants will be closely following the financial results of Baidu Inc. in its upcoming release. The company plans to announce its earnings 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%. Simultaneously, our latest consensus estimate expects the revenue to be $4.86 billion, showing a 3.42% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.43 per share and a revenue of $19.23 billion, indicating changes of +0.35% and +1.87%, respectively, from the former year.
Any recent changes to analyst estimates for Baidu Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Baidu Inc. possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Baidu Inc. is currently trading at a Forward P/E ratio of 7.95. For comparison, its industry has an average Forward P/E of 23.35, which means Baidu Inc. is trading at a discount to the group.
The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 80, placing it within the top 32% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.