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Novartis (NVS) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest trading session, Novartis (NVS - Free Report) closed at $97.87, marking a -1.55% move from the previous day. This move lagged the S&P 500's daily loss of 0.63%. Elsewhere, the Dow saw a downswing of 0.51%, while the tech-heavy Nasdaq depreciated by 0.63%.
The drugmaker's stock has dropped by 1.36% in the past month, exceeding the Medical sector's loss of 4.14% and the S&P 500's loss of 2.35%.
Analysts and investors alike will be keeping a close eye on the performance of Novartis in its upcoming earnings disclosure. The company's earnings report is set to go public on October 24, 2023. The company's upcoming EPS is projected at $1.77, signifying a 12.03% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $13.54 billion, indicating a 7.96% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.98 per share and a revenue of $53.07 billion, indicating changes of +14.43% and +4.99%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Novartis. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.99% rise in the Zacks Consensus EPS estimate. At present, Novartis boasts a Zacks Rank of #3 (Hold).
Investors should also note Novartis's current valuation metrics, including its Forward P/E ratio of 14.24. This signifies no noticeable deviation in comparison to the average Forward P/E of 14.24 for its industry.
We can additionally observe that NVS currently boasts a PEG ratio of 1.73. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.8 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 237, this industry ranks in the bottom 6% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Novartis (NVS) Suffers a Larger Drop Than the General Market: Key Insights
In the latest trading session, Novartis (NVS - Free Report) closed at $97.87, marking a -1.55% move from the previous day. This move lagged the S&P 500's daily loss of 0.63%. Elsewhere, the Dow saw a downswing of 0.51%, while the tech-heavy Nasdaq depreciated by 0.63%.
The drugmaker's stock has dropped by 1.36% in the past month, exceeding the Medical sector's loss of 4.14% and the S&P 500's loss of 2.35%.
Analysts and investors alike will be keeping a close eye on the performance of Novartis in its upcoming earnings disclosure. The company's earnings report is set to go public on October 24, 2023. The company's upcoming EPS is projected at $1.77, signifying a 12.03% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $13.54 billion, indicating a 7.96% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.98 per share and a revenue of $53.07 billion, indicating changes of +14.43% and +4.99%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Novartis. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.99% rise in the Zacks Consensus EPS estimate. At present, Novartis boasts a Zacks Rank of #3 (Hold).
Investors should also note Novartis's current valuation metrics, including its Forward P/E ratio of 14.24. This signifies no noticeable deviation in comparison to the average Forward P/E of 14.24 for its industry.
We can additionally observe that NVS currently boasts a PEG ratio of 1.73. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.8 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 237, this industry ranks in the bottom 6% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.