Yahoo Finance Baidu Inc. (BIDU) Outperforms Broader Market: What You Need to Know
Baidu Inc. (BIDU) closed the latest trading day at $113.41, indicating a +1.49% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 1.26%. Meanwhile, the Dow experienced a rise of 1.18%, and the technology-dominated Nasdaq saw an increase of 1.99%.
The web search company's shares have seen an increase of 3.02% over the last month, surpassing the Computer and Technology sector's loss of 2.46% and the S&P 500's loss of 2.68%.
The investment community will be closely monitoring the performance of Baidu Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on May 16, 2024. It is anticipated that the company will report an EPS of $2.30, marking a 1.71% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.31 billion, reflecting a 4.91% fall from the equivalent quarter last year.
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.
It is also important to note the recent changes to analyst estimates 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Right now, Baidu Inc. possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Baidu Inc. is holding a Forward P/E ratio of 9.63. Its industry sports an average Forward P/E of 22.61, 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. This industry currently has a Zacks Industry Rank of 25, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Baidu, Inc. (BIDU) : Free Stock Analysis Report
