Yahoo Finanzas Baidu Inc. (BIDU) Outperforms Broader Market: What You Need to Know
Baidu Inc. (BIDU) closed at $110.87 in the latest trading session, marking a +1.16% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.51%. Meanwhile, the Dow gained 0.85%, and the Nasdaq, a tech-heavy index, added 0.27%.
The web search company's stock has climbed by 7.86% in the past month, exceeding the Computer and Technology sector's gain of 0.73% and the S&P 500's loss of 0.25%.
The investment community will be paying close attention to the earnings performance of Baidu Inc. in its upcoming release. The company is slated to reveal its earnings on May 16, 2024. On that day, Baidu Inc. is projected to report earnings of $2.30 per share, which would represent a year-over-year decline of 1.71%. Meanwhile, our latest consensus estimate is calling for revenue of $4.31 billion, down 4.91% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.60 per share and revenue of $20.25 billion. These totals would mark changes of +1.84% and +7.26%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Baidu Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Within the past 30 days, our consensus EPS projection has moved 2.05% lower. Baidu Inc. is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Baidu Inc. is at present trading with a Forward P/E ratio of 9.45. This represents a discount compared to its industry's average Forward P/E of 23.8.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 51, positioning it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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Baidu, Inc. (BIDU) : Free Stock Analysis Report
