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Nova Ltd. (NVMI) Gains But Lags Market: What You Should Know
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In the latest trading session, Nova Ltd. (NVMI - Free Report) closed at $109.37, marking a +0.06% move from the previous day. The stock lagged the S&P 500's daily gain of 2.44%. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 0.28%.
Prior to today's trading, shares of the maker of monitoring systems used in chip manufacturing had lost 23.92% over the past month. This has lagged the Computer and Technology sector's loss of 16.14% and the S&P 500's loss of 9.65% in that time.
Investors will be hoping for strength from Nova Ltd. as it approaches its next earnings release, which is expected to be February 24, 2022. In that report, analysts expect Nova Ltd. to post earnings of $1.05 per share. This would mark year-over-year growth of 90.91%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $118.4 million, up 55.18% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Nova Ltd.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Nova Ltd. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Nova Ltd. is holding a Forward P/E ratio of 25.36. This represents a premium compared to its industry's average Forward P/E of 16.76.
Meanwhile, NVMI's PEG ratio is currently 0.79. 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. The Electronics - Semiconductors was holding an average PEG ratio of 1.43 at yesterday's closing price.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 52, putting it in the top 21% 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.
To follow NVMI in the coming trading sessions, be sure to utilize Zacks.com.
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Nova Ltd. (NVMI) Gains But Lags Market: What You Should Know
In the latest trading session, Nova Ltd. (NVMI - Free Report) closed at $109.37, marking a +0.06% move from the previous day. The stock lagged the S&P 500's daily gain of 2.44%. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 0.28%.
Prior to today's trading, shares of the maker of monitoring systems used in chip manufacturing had lost 23.92% over the past month. This has lagged the Computer and Technology sector's loss of 16.14% and the S&P 500's loss of 9.65% in that time.
Investors will be hoping for strength from Nova Ltd. as it approaches its next earnings release, which is expected to be February 24, 2022. In that report, analysts expect Nova Ltd. to post earnings of $1.05 per share. This would mark year-over-year growth of 90.91%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $118.4 million, up 55.18% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Nova Ltd.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Nova Ltd. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Nova Ltd. is holding a Forward P/E ratio of 25.36. This represents a premium compared to its industry's average Forward P/E of 16.76.
Meanwhile, NVMI's PEG ratio is currently 0.79. 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. The Electronics - Semiconductors was holding an average PEG ratio of 1.43 at yesterday's closing price.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 52, putting it in the top 21% 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.
To follow NVMI in the coming trading sessions, be sure to utilize Zacks.com.