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Meta Platforms (META) Falls More Steeply Than Broader Market: What Investors Need to Know
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The most recent trading session ended with Meta Platforms (META - Free Report) standing at $584.88, reflecting a -1.86% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.96%. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq lost 1.18%.
The social media company's shares have seen an increase of 19.12% over the last month, surpassing the Computer and Technology sector's gain of 7.35% and the S&P 500's gain of 4.3%.
Analysts and investors alike will be keeping a close eye on the performance of Meta Platforms in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2024. The company is predicted to post an EPS of $5.15, indicating a 17.31% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $40.08 billion, up 17.38% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $21.36 per share and revenue of $161.62 billion. These totals would mark changes of +43.64% and +19.8%, respectively, from last year.
Any recent changes to analyst estimates for Meta Platforms should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, 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. The Zacks Consensus EPS estimate has moved 0.3% higher within the past month. Currently, Meta Platforms is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, Meta Platforms is currently trading at a Forward P/E ratio of 27.9. This indicates a discount in contrast to its industry's Forward P/E of 30.53.
Meanwhile, META's PEG ratio is currently 1.47. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Internet - Software stocks are, on average, holding a PEG ratio of 2.03 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 74, finds itself in the top 30% echelons of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Meta Platforms (META) Falls More Steeply Than Broader Market: What Investors Need to Know
The most recent trading session ended with Meta Platforms (META - Free Report) standing at $584.88, reflecting a -1.86% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.96%. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq lost 1.18%.
The social media company's shares have seen an increase of 19.12% over the last month, surpassing the Computer and Technology sector's gain of 7.35% and the S&P 500's gain of 4.3%.
Analysts and investors alike will be keeping a close eye on the performance of Meta Platforms in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2024. The company is predicted to post an EPS of $5.15, indicating a 17.31% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $40.08 billion, up 17.38% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $21.36 per share and revenue of $161.62 billion. These totals would mark changes of +43.64% and +19.8%, respectively, from last year.
Any recent changes to analyst estimates for Meta Platforms should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, 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. The Zacks Consensus EPS estimate has moved 0.3% higher within the past month. Currently, Meta Platforms is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, Meta Platforms is currently trading at a Forward P/E ratio of 27.9. This indicates a discount in contrast to its industry's Forward P/E of 30.53.
Meanwhile, META's PEG ratio is currently 1.47. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Internet - Software stocks are, on average, holding a PEG ratio of 2.03 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 74, finds itself in the top 30% echelons of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.