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In the latest trading session, Alphabet Inc. (GOOG) closed at $2,143.88, marking a +0.3% move from the previous day. This move outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.46%.
Prior to today's trading, shares of the company had lost 6.9% over the past month. This has was narrower than the Computer and Technology sector's loss of 8.38% and lagged the S&P 500's loss of 6.69% in that time.
Alphabet Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Alphabet Inc. to post earnings of $26.55 per share. This would mark a year-over-year decline of 2.6%. Our most recent consensus estimate is calling for quarterly revenue of $58.05 billion, up 13.93% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $111.86 per share and revenue of $244.17 billion, which would represent changes of -0.3% and +15.14%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Alphabet Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.67% lower. Alphabet Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Alphabet Inc. is holding a Forward P/E ratio of 19.11. This valuation marks a discount compared to its industry's average Forward P/E of 19.73.
Investors should also note that GOOG has a PEG ratio of 1.01 right now. 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. The Internet - Services was holding an average PEG ratio of 1.35 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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