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Why Dell Technologies (DELL) Outpaced the Stock Market Today
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The latest trading session saw Dell Technologies (DELL - Free Report) ending at $113.56, denoting a +1.91% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 1.11% for the day. Meanwhile, the Dow gained 1.64%, and the Nasdaq, a tech-heavy index, added 1.03%.
Coming into today, shares of the computer and technology services provider had lost 20.08% in the past month. In that same time, the Computer and Technology sector lost 5.32%, while the S&P 500 lost 1.16%.
Market participants will be closely following the financial results of Dell Technologies in its upcoming release. The company plans to announce its earnings on August 29, 2024. The company is expected to report EPS of $1.72, down 1.15% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $24.06 billion, indicating a 4.91% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.82 per share and a revenue of $96.76 billion, representing changes of +9.68% and +9.43%, respectively, from the prior year.
Any recent changes to analyst estimates for Dell Technologies should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Dell Technologies holds a Zacks Rank of #2 (Buy).
Investors should also note Dell Technologies's current valuation metrics, including its Forward P/E ratio of 14.25. This valuation marks a discount compared to its industry's average Forward P/E of 28.04.
We can additionally observe that DELL currently boasts a PEG ratio of 1.21. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Computers - IT Services industry had an average PEG ratio of 3.21.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Why Dell Technologies (DELL) Outpaced the Stock Market Today
The latest trading session saw Dell Technologies (DELL - Free Report) ending at $113.56, denoting a +1.91% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 1.11% for the day. Meanwhile, the Dow gained 1.64%, and the Nasdaq, a tech-heavy index, added 1.03%.
Coming into today, shares of the computer and technology services provider had lost 20.08% in the past month. In that same time, the Computer and Technology sector lost 5.32%, while the S&P 500 lost 1.16%.
Market participants will be closely following the financial results of Dell Technologies in its upcoming release. The company plans to announce its earnings on August 29, 2024. The company is expected to report EPS of $1.72, down 1.15% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $24.06 billion, indicating a 4.91% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.82 per share and a revenue of $96.76 billion, representing changes of +9.68% and +9.43%, respectively, from the prior year.
Any recent changes to analyst estimates for Dell Technologies should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Dell Technologies holds a Zacks Rank of #2 (Buy).
Investors should also note Dell Technologies's current valuation metrics, including its Forward P/E ratio of 14.25. This valuation marks a discount compared to its industry's average Forward P/E of 28.04.
We can additionally observe that DELL currently boasts a PEG ratio of 1.21. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Computers - IT Services industry had an average PEG ratio of 3.21.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.