This story originally appeared on Zacks
GoPro (GPRO) closed at $10.68 in the latest trading session, posting a -0.09% move from the previous day. That change was narrower than the S&P 500’s 0.41% loss today. Elsewhere, the Dow Jones lost 0.01%, while tech-heavy Nasdaq added 0.13%.
As of today, the stock of the action video camera maker has lost 0.65% in the last month. Meanwhile, the consumer discretionary sector lost 2.75%, while the S&P 500 gained 2.36%.
GoPro will be looking to show strength as it nears its next earnings release. The company is expected to report earnings per share of $0.35, down 10.26% from the previous quarter. Our latest consensus estimate calls for quarterly revenue of $383.15 million, up 7.09% over the same period last year.
Investors may also notice recent changes in analyst estimates for GoPro. Recent reviews tend to reflect the latest near-term business trends. With this in mind, we can take the positive rating reviews as a sign of optimism about the company’s business outlook.
Based on our research, we believe that these discretionary reviews are directly related to stock movements close to the team. To take advantage of this, we have developed Zacks Rank, a proprietary model that takes these discretionary changes into account and provides an actionable ranking system.
The Zacks Rank system, which ranges from #1 (strong buy) to #5 (strong sell), has an impressive externally audited track record of outperformance, with the #1 stock having achieved a +25% average annual return since 1988. The Rise Zacks Consensus estimated EPS of 2.8% over the past month. GoPro is currently rated by Zacks #3 (Hold).
When looking at the rating, GoPro currently has a forward P/E ratio of 11.08. Its industry has an average forward P/E of 13.9, so one might conclude that GoPro is trading at a relatively discount.
The audio-visual production industry is part of the consumer discretionary goods sector. The industry currently has a Zacks Industry Rating of 107, placing it in the top 42% of all 250+ industries.
Zacks Industry Ranks are listed in order from best to worst in terms of the average Zacks rating of individual companies in each of these sectors. Our research shows that industries ranked 50% outperform the bottom half by a factor of 2 to 1.
To follow GPRO in upcoming trading sessions, be sure to use Zacks.com.
Infrastructure stock boom to sweep America
A massive push to rebuild America’s crumbling infrastructure will soon begin. It is certain, urgent and inevitable. Trillions will be spent. fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a special report to help you do just that, and it’s free today. Discover 7 private companies looking to get the most from construction and repairs to roads, bridges and buildings, as well as moving goods and transforming energy on an almost unimaginable scale.
Download for free: How to capitalize on trillions of infrastructure spending >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 of the best stocks for the next 30 days. Click for this free report
GoPro, Inc. (GPRO): Free Stock Analysis Report
To read this article on Zacks.com click here.