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Nine Energy Service (NINE) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, Nine Energy Service (NINE - Free Report) closed at $9.60, marking a -0.41% move from the previous day. This move lagged the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq gained 0.84%.

Coming into today, shares of the oilfield services company had lost 26.02% in the past month. In that same time, the Oils-Energy sector lost 4.26%, while the S&P 500 lost 2%.

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. Our most recent consensus estimate is calling for quarterly revenue of $166.3 million, up 58.25% from the year-ago period.

Any recent changes to analyst estimates for Nine Energy Service should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 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. 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).

Digging into valuation, Nine Energy Service currently has a Forward P/E ratio of 7.19. Its industry sports an average Forward P/E of 14.09, so we one might conclude that Nine Energy Service is trading at a discount comparatively.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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