Yahoo Finance Dell Technologies (DELL) Stock Sinks As Market Gains: What You Should Know
Dell Technologies (DELL) closed at $120.20 in the latest trading session, marking a -0.36% move from the prior day. This move lagged the S&P 500's daily gain of 0.02%. On the other hand, the Dow registered a loss of 0.11%, and the technology-centric Nasdaq increased by 0.1%.
The the stock of computer and technology services provider has risen by 5.22% in the past month, leading the Computer and Technology sector's loss of 5.13% and the S&P 500's loss of 3.01%.
The investment community will be paying close attention to the earnings performance of Dell Technologies in its upcoming release. The company is slated to reveal its earnings on May 30, 2024. It is anticipated that the company will report an EPS of $1.20, marking an 8.4% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $21.75 billion, up 3.96% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.64 per share and revenue of $93.7 billion, which would represent changes of +7.15% and +5.96%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Dell Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Dell Technologies holds a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Dell Technologies currently has a Forward P/E ratio of 15.78. This valuation marks a discount compared to its industry's average Forward P/E of 23.69.
It's also important to note that DELL currently trades at a PEG ratio of 1.32. 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. DELL's industry had an average PEG ratio of 2.21 as of yesterday's close.
The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DELL in the coming trading sessions, be sure to utilize Zacks.com.
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Dell Technologies Inc. (DELL) : Free Stock Analysis Report
