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Novartis (NVS) Stock Moves -0.01%: What You Should Know
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The latest trading session saw Novartis (NVS - Free Report) ending at $96.15, denoting a -0.01% adjustment from its last day's close. This change was narrower than the S&P 500's 0.13% loss on the day. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw a decrease of 0.12%.
The drugmaker's shares have seen a decrease of 1.77% over the last month, surpassing the Medical sector's loss of 4.65% and the S&P 500's loss of 5.53%.
Market participants will be closely following the financial results of Novartis in its upcoming release. The company plans to announce its earnings on October 24, 2023. The company's earnings per share (EPS) are projected to be $1.82, reflecting a 15.19% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $13.54 billion, reflecting a 7.91% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.05 per share and revenue of $53.86 billion, which would represent changes of +15.57% and +6.55%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Novartis. 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. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.94% increase. Novartis is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Novartis is at present trading with a Forward P/E ratio of 13.63. This represents no noticeable deviation compared to its industry's average Forward P/E of 13.63.
It's also important to note that NVS currently trades at a PEG ratio of 1.63. 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. By the end of yesterday's trading, the Large Cap Pharmaceuticals industry had an average PEG ratio of 1.63.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 205, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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Novartis (NVS) Stock Moves -0.01%: What You Should Know
The latest trading session saw Novartis (NVS - Free Report) ending at $96.15, denoting a -0.01% adjustment from its last day's close. This change was narrower than the S&P 500's 0.13% loss on the day. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw a decrease of 0.12%.
The drugmaker's shares have seen a decrease of 1.77% over the last month, surpassing the Medical sector's loss of 4.65% and the S&P 500's loss of 5.53%.
Market participants will be closely following the financial results of Novartis in its upcoming release. The company plans to announce its earnings on October 24, 2023. The company's earnings per share (EPS) are projected to be $1.82, reflecting a 15.19% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $13.54 billion, reflecting a 7.91% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.05 per share and revenue of $53.86 billion, which would represent changes of +15.57% and +6.55%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Novartis. 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. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.94% increase. Novartis is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Novartis is at present trading with a Forward P/E ratio of 13.63. This represents no noticeable deviation compared to its industry's average Forward P/E of 13.63.
It's also important to note that NVS currently trades at a PEG ratio of 1.63. 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. By the end of yesterday's trading, the Large Cap Pharmaceuticals industry had an average PEG ratio of 1.63.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 205, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.