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Nova Ltd. (NVMI) Dips More Than Broader Markets: What You Should Know
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Nova Ltd. (NVMI - Free Report) closed at $89.76 in the latest trading session, marking a -0.29% move from the prior day. This change lagged the S&P 500's 0.2% loss on the day. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq lost 0.12%.
Coming into today, shares of the maker of monitoring systems used in chip manufacturing had lost 5.81% in the past month. In that same time, the Computer and Technology sector lost 4.64%, while the S&P 500 lost 3.29%.
Wall Street will be looking for positivity from Nova Ltd. as it approaches its next earnings report date. In that report, analysts expect Nova Ltd. to post earnings of $1.15 per share. This would mark a year-over-year decline of 0.86%.
Investors might also notice recent changes to analyst estimates for Nova Ltd.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 2.91% lower. Nova Ltd. is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Nova Ltd.'s current valuation metrics, including its Forward P/E ratio of 18.87. Its industry sports an average Forward P/E of 12.81, so we one might conclude that Nova Ltd. is trading at a premium comparatively.
Also, we should mention that NVMI has a PEG ratio of 2.16. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Electronics - Semiconductors stocks are, on average, holding a PEG ratio of 1 based on yesterday's closing prices.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nova Ltd. (NVMI) Dips More Than Broader Markets: What You Should Know
Nova Ltd. (NVMI - Free Report) closed at $89.76 in the latest trading session, marking a -0.29% move from the prior day. This change lagged the S&P 500's 0.2% loss on the day. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq lost 0.12%.
Coming into today, shares of the maker of monitoring systems used in chip manufacturing had lost 5.81% in the past month. In that same time, the Computer and Technology sector lost 4.64%, while the S&P 500 lost 3.29%.
Wall Street will be looking for positivity from Nova Ltd. as it approaches its next earnings report date. In that report, analysts expect Nova Ltd. to post earnings of $1.15 per share. This would mark a year-over-year decline of 0.86%.
Investors might also notice recent changes to analyst estimates for Nova Ltd.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 2.91% lower. Nova Ltd. is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Nova Ltd.'s current valuation metrics, including its Forward P/E ratio of 18.87. Its industry sports an average Forward P/E of 12.81, so we one might conclude that Nova Ltd. is trading at a premium comparatively.
Also, we should mention that NVMI has a PEG ratio of 2.16. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Electronics - Semiconductors stocks are, on average, holding a PEG ratio of 1 based on yesterday's closing prices.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.