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Nine Energy Service (NINE) Gains But Lags Market: What You Should Know
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Nine Energy Service (NINE - Free Report) closed at $13.36 in the latest trading session, marking a +0.07% move from the prior day. This change lagged the S&P 500's 1.1% gain on the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 6.59%.
Prior to today's trading, shares of the oilfield services company had gained 8.27% over the past month. This has outpaced the Oils-Energy sector's gain of 2.39% and the S&P 500's gain of 4.58% in that time.
Wall Street will be looking for positivity from Nine Energy Service as it approaches its next earnings report date. This is expected to be March 8, 2023. The company is expected to report EPS of $0.36, up 169.23% from the prior-year quarter.
Any recent changes to analyst estimates for Nine Energy Service should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.18% lower. Nine Energy Service is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Nine Energy Service currently has a Forward P/E ratio of 5.96. This represents a discount compared to its industry's average Forward P/E of 13.86.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nine Energy Service (NINE) Gains But Lags Market: What You Should Know
Nine Energy Service (NINE - Free Report) closed at $13.36 in the latest trading session, marking a +0.07% move from the prior day. This change lagged the S&P 500's 1.1% gain on the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 6.59%.
Prior to today's trading, shares of the oilfield services company had gained 8.27% over the past month. This has outpaced the Oils-Energy sector's gain of 2.39% and the S&P 500's gain of 4.58% in that time.
Wall Street will be looking for positivity from Nine Energy Service as it approaches its next earnings report date. This is expected to be March 8, 2023. The company is expected to report EPS of $0.36, up 169.23% from the prior-year quarter.
Any recent changes to analyst estimates for Nine Energy Service should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.18% lower. Nine Energy Service is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Nine Energy Service currently has a Forward P/E ratio of 5.96. This represents a discount compared to its industry's average Forward P/E of 13.86.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.