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HP (HPQ) Stock Moves -0.48%: What You Should Know

HP (HPQ) closed at $24.92 in the latest trading session, marking a -0.48% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.51%. Elsewhere, the Dow lost 1.71%, while the tech-heavy Nasdaq lost 0.02%.

Prior to today's trading, shares of the personal computer and printer maker had lost 11.11% over the past month. This has was narrower than the Computer and Technology sector's loss of 11.76% and lagged the S&P 500's loss of 9.52% in that time.

Wall Street will be looking for positivity from HP as it approaches its next earnings report date. In that report, analysts expect HP to post earnings of $0.84 per share. This would mark a year-over-year decline of 10.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.01 billion, down 9.98% from the year-ago period.

HPQ's full-year Zacks Consensus Estimates are calling for earnings of $4.08 per share and revenue of $63.19 billion. These results would represent year-over-year changes of +7.65% and -0.46%, respectively.

Investors should also note any recent changes to analyst estimates for HP. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.18% lower. HP is currently sporting a Zacks Rank of #4 (Sell).

In terms of valuation, HP is currently trading at a Forward P/E ratio of 6.13. Its industry sports an average Forward P/E of 6.13, so we one might conclude that HP is trading at a no noticeable deviation comparatively.

It is also worth noting that HPQ currently has a PEG ratio of 2.24. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Mini computers was holding an average PEG ratio of 2.06 at yesterday's closing price.

The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 240, putting it in the bottom 5% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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