The most recent trading session ended with Alphabet Inc. (GOOG) standing at $174.21, reflecting a -0.45% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 1.78%. On the other hand, the Dow registered a loss of 0.99%, and the technology-centric Nasdaq decreased by 2.61%.
The company's stock has dropped by 9.47% in the past month, falling short of the Computer and Technology sector's loss of 5.78% and the S&P 500's loss of 3.48%.
Market participants will be closely following the financial results of Alphabet Inc. in its upcoming release. The company is forecasted to report an EPS of $2.04, showcasing a 7.94% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $75.67 billion, up 11.94% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.89 per share and a revenue of $334.55 billion, indicating changes of +10.57% and +13.36%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Alphabet Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 has moved 0.49% lower. At present, Alphabet Inc. boasts a Zacks Rank of #3 (Hold).
Investors should also note Alphabet Inc.'s current valuation metrics, including its Forward P/E ratio of 19.69. This denotes a discount relative to the industry's average Forward P/E of 24.73.
It is also worth noting that GOOG currently has a PEG ratio of 1.26. 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. GOOG's industry had an average PEG ratio of 1.57 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 139, which puts it in the bottom 45% 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.
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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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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