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Nov Inc. (NOV) Stock Moves -1.26%: What You Should Know

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Nov Inc. (NOV - Free Report) closed at $16.44 in the latest trading session, marking a -1.26% move from the prior day. This change was narrower than the S&P 500's 1.71% loss on the day. Meanwhile, the Dow lost 1.7%, and the Nasdaq, a tech-heavy index, lost 0.09%.

Coming into today, shares of the oil and gas industry supplier had lost 9.26% in the past month. In that same time, the Business Services sector lost 10.81%, while the S&P 500 lost 8.68%.

Nov Inc. will be looking to display strength as it nears its next earnings release, which is expected to be October 27, 2022. In that report, analysts expect Nov Inc. to post earnings of $0.14 per share. This would mark year-over-year growth of 227.27%. Meanwhile, our latest consensus estimate is calling for revenue of $1.81 billion, up 34.94% from the prior-year quarter.

NOV's full-year Zacks Consensus Estimates are calling for earnings of $0.45 per share and revenue of $6.99 billion. These results would represent year-over-year changes of +191.84% and +26.54%, respectively.

Investors might also notice recent changes to analyst estimates for Nov Inc.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. 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 remained stagnant. Nov Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).

Digging into valuation, Nov Inc. currently has a Forward P/E ratio of 36.73. This represents a premium compared to its industry's average Forward P/E of 22.4.

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% 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.

To follow NOV in the coming trading sessions, be sure to utilize Zacks.com.


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