The most recent trading session ended with Baidu Inc. (BIDU) standing at $82.70, reflecting a -1.92% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.22%. Meanwhile, the Dow experienced a drop of 0.36%, and the technology-dominated Nasdaq saw a decrease of 0.16%.
Heading into today, shares of the web search company had lost 0.44% over the past month, lagging the Computer and Technology sector's gain of 1.86% and outpacing the S&P 500's loss of 2.36% in that time.
The upcoming earnings release of Baidu Inc. will be of great interest to investors. On that day, Baidu Inc. is projected to report earnings of $2.03 per share, which would represent a year-over-year decline of 34.09%. Our most recent consensus estimate is calling for quarterly revenue of $4.6 billion, down 6.64% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Baidu Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Baidu Inc. is currently a Zacks Rank #4 (Sell).
In terms of valuation, Baidu Inc. is currently trading at a Forward P/E ratio of 9. This signifies a discount in comparison to the average Forward P/E of 22.64 for its industry.
We can also see that BIDU currently has a PEG ratio of 0.99. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 1.45.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Baidu, Inc. (BIDU) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
