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Nine Energy Service (NINE) Stock Sinks As Market Gains: What You Should Know
Nine Energy Service (NINE - Free Report) closed the most recent trading day at $6.44, moving -0.16% from the previous trading session. This change lagged the S&P 500's 1.68% gain on the day. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, lost 1.7%.
Coming into today, shares of the oilfield services company had lost 40.93% in the past month. In that same time, the Oils-Energy sector lost 8.65%, while the S&P 500 lost 6.68%.
Wall Street will be looking for positivity from Nine Energy Service as it approaches its next earnings report date. On that day, Nine Energy Service is projected to report earnings of $0.08 per share, which would represent year-over-year growth of 136.36%. Meanwhile, our latest consensus estimate is calling for revenue of $162.1 million, up 38.62% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.43 per share and revenue of $657.6 million. These totals would mark changes of -4.44% and +10.82%, respectively, from last year.
It is also important to note the 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.
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.
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. The Zacks Consensus EPS estimate has moved 67.91% lower within the past month. Nine Energy Service is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Nine Energy Service is currently trading at a Forward P/E ratio of 15. This represents a premium compared to its industry's average Forward P/E of 13.35.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 53, which puts 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.