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Nine Energy Service (NINE) Gains As Market Dips: What You Should Know
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Nine Energy Service (NINE - Free Report) closed the most recent trading day at $14.64, moving +0.62% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 10.92%.
Coming into today, shares of the oilfield services company had gained 15.75% in the past month. In that same time, the Oils-Energy sector gained 5.16%, while the S&P 500 gained 2.18%.
Nine Energy Service will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.36, up 169.23% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Nine Energy Service. These revisions help to show the ever-changing nature of near-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. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.18% lower. Nine Energy Service is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Nine Energy Service currently has a Forward P/E ratio of 6.5. This represents a discount compared to its industry's average Forward P/E of 13.28.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nine Energy Service (NINE) Gains As Market Dips: What You Should Know
Nine Energy Service (NINE - Free Report) closed the most recent trading day at $14.64, moving +0.62% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 10.92%.
Coming into today, shares of the oilfield services company had gained 15.75% in the past month. In that same time, the Oils-Energy sector gained 5.16%, while the S&P 500 gained 2.18%.
Nine Energy Service will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.36, up 169.23% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Nine Energy Service. These revisions help to show the ever-changing nature of near-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. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.18% lower. Nine Energy Service is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Nine Energy Service currently has a Forward P/E ratio of 6.5. This represents a discount compared to its industry's average Forward P/E of 13.28.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.