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HP (HPQ) Increases Despite Market Slip: Here's What You Need to Know
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HP (HPQ - Free Report) ended the recent trading session at $34.81, demonstrating a +0.61% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.2% for the day. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq lost 0.34%.
The personal computer and printer maker's shares have seen a decrease of 9% over the last month, not keeping up with the Computer and Technology sector's gain of 0.96% and the S&P 500's gain of 1.93%.
Analysts and investors alike will be keeping a close eye on the performance of HP in its upcoming earnings disclosure. The company's earnings report is set to go public on August 28, 2024. The company is expected to report EPS of $0.86, unchanged from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $13.31 billion, showing a 0.85% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.45 per share and revenue of $53.59 billion. These totals would mark changes of +5.18% and -0.31%, respectively, from last 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 shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. HP currently has a Zacks Rank of #4 (Sell).
In terms of valuation, HP is presently being traded at a Forward P/E ratio of 10.04. Its industry sports an average Forward P/E of 12.26, so one might conclude that HP is trading at a discount comparatively.
Investors should also note that HPQ has a PEG ratio of 2.2 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Computer - Micro Computers industry stood at 1.71 at the close of the market yesterday.
The Computer - Micro Computers industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 99, this industry ranks in the top 40% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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HP (HPQ) Increases Despite Market Slip: Here's What You Need to Know
HP (HPQ - Free Report) ended the recent trading session at $34.81, demonstrating a +0.61% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.2% for the day. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq lost 0.34%.
The personal computer and printer maker's shares have seen a decrease of 9% over the last month, not keeping up with the Computer and Technology sector's gain of 0.96% and the S&P 500's gain of 1.93%.
Analysts and investors alike will be keeping a close eye on the performance of HP in its upcoming earnings disclosure. The company's earnings report is set to go public on August 28, 2024. The company is expected to report EPS of $0.86, unchanged from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $13.31 billion, showing a 0.85% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.45 per share and revenue of $53.59 billion. These totals would mark changes of +5.18% and -0.31%, respectively, from last 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 shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. HP currently has a Zacks Rank of #4 (Sell).
In terms of valuation, HP is presently being traded at a Forward P/E ratio of 10.04. Its industry sports an average Forward P/E of 12.26, so one might conclude that HP is trading at a discount comparatively.
Investors should also note that HPQ has a PEG ratio of 2.2 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Computer - Micro Computers industry stood at 1.71 at the close of the market yesterday.
The Computer - Micro Computers industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 99, this industry ranks in the top 40% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.