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Nova Ltd. (NVMI) Gains As Market Dips: What You Should Know
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Nova Ltd. (NVMI - Free Report) closed at $116.01 in the latest trading session, marking a +0.75% move from the prior day. This change outpaced the S&P 500's 0.02% loss on the day. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the maker of monitoring systems used in chip manufacturing had gained 0.27% over the past month, lagging the Computer and Technology sector's gain of 3.63% and the S&P 500's gain of 5.14% in that time.
Wall Street will be looking for positivity from Nova Ltd. as it approaches its next earnings report date. This is expected to be August 3, 2023. On that day, Nova Ltd. is projected to report earnings of $1 per share, which would represent a year-over-year decline of 19.35%. Meanwhile, our latest consensus estimate is calling for revenue of $121 million, down 14.57% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.18 per share and revenue of $496.3 million, which would represent changes of -17.55% and -13.04%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Nova Ltd.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 4.28% lower. Nova Ltd. currently has a Zacks Rank of #3 (Hold).
Investors should also note Nova Ltd.'s current valuation metrics, including its Forward P/E ratio of 27.55. For comparison, its industry has an average Forward P/E of 27.55, which means Nova Ltd. is trading at a no noticeable deviation to the group.
Meanwhile, NVMI's PEG ratio is currently 7.61. 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. NVMI's industry had an average PEG ratio of 3.98 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% 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 NVMI in the coming trading sessions, be sure to utilize Zacks.com.
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Nova Ltd. (NVMI) Gains As Market Dips: What You Should Know
Nova Ltd. (NVMI - Free Report) closed at $116.01 in the latest trading session, marking a +0.75% move from the prior day. This change outpaced the S&P 500's 0.02% loss on the day. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the maker of monitoring systems used in chip manufacturing had gained 0.27% over the past month, lagging the Computer and Technology sector's gain of 3.63% and the S&P 500's gain of 5.14% in that time.
Wall Street will be looking for positivity from Nova Ltd. as it approaches its next earnings report date. This is expected to be August 3, 2023. On that day, Nova Ltd. is projected to report earnings of $1 per share, which would represent a year-over-year decline of 19.35%. Meanwhile, our latest consensus estimate is calling for revenue of $121 million, down 14.57% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.18 per share and revenue of $496.3 million, which would represent changes of -17.55% and -13.04%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Nova Ltd.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 4.28% lower. Nova Ltd. currently has a Zacks Rank of #3 (Hold).
Investors should also note Nova Ltd.'s current valuation metrics, including its Forward P/E ratio of 27.55. For comparison, its industry has an average Forward P/E of 27.55, which means Nova Ltd. is trading at a no noticeable deviation to the group.
Meanwhile, NVMI's PEG ratio is currently 7.61. 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. NVMI's industry had an average PEG ratio of 3.98 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% 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 NVMI in the coming trading sessions, be sure to utilize Zacks.com.