Yahoo Finance Baidu Inc. (BIDU) Stock Declines While Market Improves: Some Information for Investors
Baidu Inc. (BIDU) closed the latest trading day at $108.66, indicating a -1.99% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.17% for the day. At the same time, the Dow added 0.32%, and the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the web search company had gained 8.36% over the past month, outpacing the Computer and Technology sector's gain of 0.39% and the S&P 500's gain of 0.17% in that time.
Investors will be eagerly watching for the performance of Baidu Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 16, 2024. The company is forecasted to report an EPS of $2.30, showcasing a 1.71% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $4.31 billion, down 4.91% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $11.60 per share and a revenue of $20.25 billion, demonstrating changes of +1.84% and +7.26%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Baidu Inc. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Baidu Inc. is carrying a Zacks Rank of #4 (Sell).
In terms of valuation, Baidu Inc. is presently being traded at a Forward P/E ratio of 9.56. Its industry sports an average Forward P/E of 24.01, so one might conclude that Baidu Inc. is trading at a discount comparatively.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 54, positioning it in the top 22% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Baidu, Inc. (BIDU) : Free Stock Analysis Report
