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Nov Inc. (NOV) Gains But Lags Market: What You Should Know
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Nov Inc. (NOV - Free Report) closed the most recent trading day at $18.03, moving +0.84% from the previous trading session. The stock lagged the S&P 500's daily gain of 2.65%. At the same time, the Dow added 1.86%, and the tech-heavy Nasdaq gained 0.24%.
Heading into today, shares of the oil and gas industry supplier had gained 4.44% over the past month, outpacing the Business Services sector's loss of 14.11% and the S&P 500's loss of 8.99% in that time.
Wall Street will be looking for positivity from Nov Inc. as it approaches its next earnings report date. This is expected to be October 27, 2022. On that day, Nov Inc. is projected to report earnings of $0.14 per share, which would represent year-over-year growth of 227.27%. Our most recent consensus estimate is calling for quarterly revenue of $1.81 billion, up 35.11% from the year-ago period.
NOV's full-year Zacks Consensus Estimates are calling for earnings of $0.49 per share and revenue of $6.95 billion. These results would represent year-over-year changes of +200% and +25.89%, respectively.
Investors should also note any recent changes to analyst estimates for Nov Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 8.09% higher within the past month. Nov Inc. is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Nov Inc. has a Forward P/E ratio of 36.49 right now. This represents a premium compared to its industry's average Forward P/E of 20.25.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% 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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Nov Inc. (NOV) Gains But Lags Market: What You Should Know
Nov Inc. (NOV - Free Report) closed the most recent trading day at $18.03, moving +0.84% from the previous trading session. The stock lagged the S&P 500's daily gain of 2.65%. At the same time, the Dow added 1.86%, and the tech-heavy Nasdaq gained 0.24%.
Heading into today, shares of the oil and gas industry supplier had gained 4.44% over the past month, outpacing the Business Services sector's loss of 14.11% and the S&P 500's loss of 8.99% in that time.
Wall Street will be looking for positivity from Nov Inc. as it approaches its next earnings report date. This is expected to be October 27, 2022. On that day, Nov Inc. is projected to report earnings of $0.14 per share, which would represent year-over-year growth of 227.27%. Our most recent consensus estimate is calling for quarterly revenue of $1.81 billion, up 35.11% from the year-ago period.
NOV's full-year Zacks Consensus Estimates are calling for earnings of $0.49 per share and revenue of $6.95 billion. These results would represent year-over-year changes of +200% and +25.89%, respectively.
Investors should also note any recent changes to analyst estimates for Nov Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 8.09% higher within the past month. Nov Inc. is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Nov Inc. has a Forward P/E ratio of 36.49 right now. This represents a premium compared to its industry's average Forward P/E of 20.25.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% 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.