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Novartis (NVS) Stock Moves -0.4%: What You Should Know
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Novartis (NVS - Free Report) closed the latest trading day at $96.10, indicating a -0.4% change from the previous session's end. This change was narrower than the S&P 500's daily loss of 1.34%. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq lost 1.62%.
The the stock of drugmaker has fallen by 6.24% in the past month, lagging the Medical sector's loss of 2.87% and the S&P 500's loss of 1.57%.
Investors will be eagerly watching for the performance of Novartis in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 24, 2023. In that report, analysts expect Novartis to post earnings of $1.71 per share. This would mark year-over-year growth of 8.23%. Meanwhile, our latest consensus estimate is calling for revenue of $12.78 billion, up 1.87% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.85 per share and a revenue of $49.85 billion, signifying shifts of +12.3% and -1.37%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Novartis. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 0.99% lower. As of now, Novartis holds a Zacks Rank of #3 (Hold).
Investors should also note Novartis's current valuation metrics, including its Forward P/E ratio of 14.09. For comparison, its industry has an average Forward P/E of 14.09, which means Novartis is trading at no noticeable deviation to the group.
It's also important to note that NVS currently trades at a PEG ratio of 1.71. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.84.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 235, which puts it in the bottom 7% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NVS in the coming trading sessions, be sure to utilize Zacks.com.
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Novartis (NVS) Stock Moves -0.4%: What You Should Know
Novartis (NVS - Free Report) closed the latest trading day at $96.10, indicating a -0.4% change from the previous session's end. This change was narrower than the S&P 500's daily loss of 1.34%. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq lost 1.62%.
The the stock of drugmaker has fallen by 6.24% in the past month, lagging the Medical sector's loss of 2.87% and the S&P 500's loss of 1.57%.
Investors will be eagerly watching for the performance of Novartis in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 24, 2023. In that report, analysts expect Novartis to post earnings of $1.71 per share. This would mark year-over-year growth of 8.23%. Meanwhile, our latest consensus estimate is calling for revenue of $12.78 billion, up 1.87% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.85 per share and a revenue of $49.85 billion, signifying shifts of +12.3% and -1.37%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Novartis. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 0.99% lower. As of now, Novartis holds a Zacks Rank of #3 (Hold).
Investors should also note Novartis's current valuation metrics, including its Forward P/E ratio of 14.09. For comparison, its industry has an average Forward P/E of 14.09, which means Novartis is trading at no noticeable deviation to the group.
It's also important to note that NVS currently trades at a PEG ratio of 1.71. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.84.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 235, which puts it in the bottom 7% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NVS in the coming trading sessions, be sure to utilize Zacks.com.