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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 the most recent trading day at $105.63, moving -1.75% from the previous trading session. This change lagged the S&P 500's 1.3% loss on the day. Meanwhile, the Dow lost 0.69%, and the Nasdaq, a tech-heavy index, lost 0.45%.
Prior to today's trading, shares of the maker of monitoring systems used in chip manufacturing had lost 9.22% over the past month. This has lagged the Computer and Technology sector's loss of 8.81% and the S&P 500's loss of 5.33% in that time.
Wall Street will be looking for positivity from Nova Ltd. as it approaches its next earnings report date. The company is expected to report EPS of $1.05, up 50% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $126 million, up 49.77% from the prior-year quarter.
NVMI's full-year Zacks Consensus Estimates are calling for earnings of $4.19 per share and revenue of $512 million. These results would represent year-over-year changes of +8.83% and +23.04%, respectively.
It is also important to note the recent changes to analyst estimates for Nova Ltd.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 7.79% lower. Nova Ltd. is currently a Zacks Rank #4 (Sell).
In terms of valuation, Nova Ltd. is currently trading at a Forward P/E ratio of 25.66. This represents a premium compared to its industry's average Forward P/E of 19.33.
Investors should also note that NVMI has a PEG ratio of 0.8 right now. 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 1.24 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 55, putting it in the top 22% 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.
Be sure to follow all of these stock-moving metrics, and many 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 the most recent trading day at $105.63, moving -1.75% from the previous trading session. This change lagged the S&P 500's 1.3% loss on the day. Meanwhile, the Dow lost 0.69%, and the Nasdaq, a tech-heavy index, lost 0.45%.
Prior to today's trading, shares of the maker of monitoring systems used in chip manufacturing had lost 9.22% over the past month. This has lagged the Computer and Technology sector's loss of 8.81% and the S&P 500's loss of 5.33% in that time.
Wall Street will be looking for positivity from Nova Ltd. as it approaches its next earnings report date. The company is expected to report EPS of $1.05, up 50% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $126 million, up 49.77% from the prior-year quarter.
NVMI's full-year Zacks Consensus Estimates are calling for earnings of $4.19 per share and revenue of $512 million. These results would represent year-over-year changes of +8.83% and +23.04%, respectively.
It is also important to note the recent changes to analyst estimates for Nova Ltd.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 7.79% lower. Nova Ltd. is currently a Zacks Rank #4 (Sell).
In terms of valuation, Nova Ltd. is currently trading at a Forward P/E ratio of 25.66. This represents a premium compared to its industry's average Forward P/E of 19.33.
Investors should also note that NVMI has a PEG ratio of 0.8 right now. 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 1.24 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 55, putting it in the top 22% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.