Back to top

Image: Bigstock

Nine Energy Service (NINE) Stock Moves -1.35%: What You Should Know

Read MoreHide Full Article

Nine Energy Service (NINE - Free Report) closed at $9.53 in the latest trading session, marking a -1.35% move from the prior day. This change was narrower than the S&P 500's 2% loss on the day. Meanwhile, the Dow lost 2.06%, and the Nasdaq, a tech-heavy index, lost 2.32%.

Heading into today, shares of the oilfield services company had lost 27.8% over the past month, lagging the Oils-Energy sector's loss of 3.93% and the S&P 500's gain of 2.88% in that time.

Nine Energy Service will be looking to display strength as it nears its next earnings release, which is expected to be March 8, 2023. The company is expected to report EPS of $0.34, up 165.38% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $166.3 million, up 58.25% from the prior-year quarter.

Investors might also notice recent changes to analyst estimates for Nine Energy Service. 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 40.18% lower. Nine Energy Service currently has a Zacks Rank of #5 (Strong Sell).

Valuation is also important, so investors should note that Nine Energy Service has a Forward P/E ratio of 7.21 right now. For comparison, its industry has an average Forward P/E of 13.29, which means Nine Energy Service is trading at a discount to the group.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% 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 NINE in the coming trading sessions, be sure to utilize Zacks.com.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Nine Energy Service, Inc. (NINE) - free report >>

Published in