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Baidu Inc. (BIDU) Dips More Than Broader Market: What You Should Know
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In the latest trading session, Baidu Inc. (BIDU - Free Report) closed at $87.79, marking a -1.08% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.51% for the day. Elsewhere, the Dow saw an upswing of 0.2%, while the tech-heavy Nasdaq depreciated by 0.93%.
The web search company's shares have seen an increase of 0.6% over the last month, surpassing the Computer and Technology sector's loss of 2.41% and the S&P 500's loss of 0.26%.
Investors will be eagerly watching for the performance of Baidu Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 22, 2024. On that day, Baidu Inc. is projected to report earnings of $2.68 per share, which would represent a year-over-year decline of 13.83%. Simultaneously, our latest consensus estimate expects the revenue to be $4.74 billion, showing a 0.84% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $11.18 per share and a revenue of $19.23 billion, demonstrating changes of -1.84% and +1.87%, respectively, from the preceding year.
Any recent changes to analyst estimates for Baidu Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 1.64% fall in the Zacks Consensus EPS estimate. Baidu Inc. is currently sporting a Zacks Rank of #4 (Sell).
With respect to valuation, Baidu Inc. is currently being traded at a Forward P/E ratio of 7.94. This represents a discount compared to its industry's average Forward P/E of 22.55.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 38% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BIDU in the coming trading sessions, be sure to utilize Zacks.com.
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Baidu Inc. (BIDU) Dips More Than Broader Market: What You Should Know
In the latest trading session, Baidu Inc. (BIDU - Free Report) closed at $87.79, marking a -1.08% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.51% for the day. Elsewhere, the Dow saw an upswing of 0.2%, while the tech-heavy Nasdaq depreciated by 0.93%.
The web search company's shares have seen an increase of 0.6% over the last month, surpassing the Computer and Technology sector's loss of 2.41% and the S&P 500's loss of 0.26%.
Investors will be eagerly watching for the performance of Baidu Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 22, 2024. On that day, Baidu Inc. is projected to report earnings of $2.68 per share, which would represent a year-over-year decline of 13.83%. Simultaneously, our latest consensus estimate expects the revenue to be $4.74 billion, showing a 0.84% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $11.18 per share and a revenue of $19.23 billion, demonstrating changes of -1.84% and +1.87%, respectively, from the preceding year.
Any recent changes to analyst estimates for Baidu Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 1.64% fall in the Zacks Consensus EPS estimate. Baidu Inc. is currently sporting a Zacks Rank of #4 (Sell).
With respect to valuation, Baidu Inc. is currently being traded at a Forward P/E ratio of 7.94. This represents a discount compared to its industry's average Forward P/E of 22.55.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 38% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BIDU in the coming trading sessions, be sure to utilize Zacks.com.