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Novartis (NVS) Ascends But Remains Behind Market: Some Facts to Note
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The latest trading session saw Novartis (NVS - Free Report) ending at $97.14, denoting a +1.03% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 1.18%. On the other hand, the Dow registered a gain of 0.87%, and the technology-centric Nasdaq increased by 1.6%.
Prior to today's trading, shares of the drugmaker had lost 2.73% over the past month. This has was narrower than the Medical sector's loss of 3.03% and the S&P 500's loss of 5.17% in that time.
The investment community will be closely monitoring the performance of Novartis in its forthcoming earnings report. The company is scheduled to release its earnings on October 24, 2023. On that day, Novartis is projected to report earnings of $1.80 per share, which would represent year-over-year growth of 13.92%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.54 billion, up 7.91% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.95 per share and a revenue of $53.86 billion, signifying shifts of +13.93% and +6.55%, respectively, from the last year.
Any recent changes to analyst estimates for Novartis should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.5% higher. Right now, Novartis possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Novartis is currently being traded at a Forward P/E ratio of 13.84. This expresses no noticeable deviation compared to the average Forward P/E of 13.84 of its industry.
We can also see that NVS currently has a PEG ratio of 1.68. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.68 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 186, this industry ranks in the bottom 27% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Novartis (NVS) Ascends But Remains Behind Market: Some Facts to Note
The latest trading session saw Novartis (NVS - Free Report) ending at $97.14, denoting a +1.03% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 1.18%. On the other hand, the Dow registered a gain of 0.87%, and the technology-centric Nasdaq increased by 1.6%.
Prior to today's trading, shares of the drugmaker had lost 2.73% over the past month. This has was narrower than the Medical sector's loss of 3.03% and the S&P 500's loss of 5.17% in that time.
The investment community will be closely monitoring the performance of Novartis in its forthcoming earnings report. The company is scheduled to release its earnings on October 24, 2023. On that day, Novartis is projected to report earnings of $1.80 per share, which would represent year-over-year growth of 13.92%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.54 billion, up 7.91% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.95 per share and a revenue of $53.86 billion, signifying shifts of +13.93% and +6.55%, respectively, from the last year.
Any recent changes to analyst estimates for Novartis should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.5% higher. Right now, Novartis possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Novartis is currently being traded at a Forward P/E ratio of 13.84. This expresses no noticeable deviation compared to the average Forward P/E of 13.84 of its industry.
We can also see that NVS currently has a PEG ratio of 1.68. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.68 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 186, this industry ranks in the bottom 27% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.