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Nova Ltd. (NVMI) Stock Moves -1.14%: What You Should Know
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The latest trading session saw Nova Ltd. (NVMI - Free Report) ending at $91.25, denoting a -1.14% adjustment from its last day's close. This change was narrower than the S&P 500's 1.18% loss on the day. Elsewhere, the Dow lost 0.76%, while the tech-heavy Nasdaq lost 1.76%.
Heading into today, shares of the maker of monitoring systems used in chip manufacturing had lost 15.67% over the past month, lagging the Computer and Technology sector's loss of 2.96% and the S&P 500's loss of 3.35% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Nova Ltd. in its upcoming earnings disclosure. The company's earnings report is set to go public on November 9, 2023. On that day, Nova Ltd. is projected to report earnings of $1.09 per share, which would represent a year-over-year decline of 12.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $123 million, down 14.53% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.45 per share and revenue of $505 million. These totals would mark changes of -12.23% and -11.52%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Nova Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 remained steady. Nova Ltd. is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Nova Ltd. is presently trading at a Forward P/E ratio of 20.74. This expresses a discount compared to the average Forward P/E of 24.17 of its industry.
We can additionally observe that NVMI currently boasts a PEG ratio of 5.73. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. NVMI's industry had an average PEG ratio of 3.95 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 141, which puts it in the bottom 45% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Nova Ltd. (NVMI) Stock Moves -1.14%: What You Should Know
The latest trading session saw Nova Ltd. (NVMI - Free Report) ending at $91.25, denoting a -1.14% adjustment from its last day's close. This change was narrower than the S&P 500's 1.18% loss on the day. Elsewhere, the Dow lost 0.76%, while the tech-heavy Nasdaq lost 1.76%.
Heading into today, shares of the maker of monitoring systems used in chip manufacturing had lost 15.67% over the past month, lagging the Computer and Technology sector's loss of 2.96% and the S&P 500's loss of 3.35% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Nova Ltd. in its upcoming earnings disclosure. The company's earnings report is set to go public on November 9, 2023. On that day, Nova Ltd. is projected to report earnings of $1.09 per share, which would represent a year-over-year decline of 12.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $123 million, down 14.53% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.45 per share and revenue of $505 million. These totals would mark changes of -12.23% and -11.52%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Nova Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 remained steady. Nova Ltd. is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Nova Ltd. is presently trading at a Forward P/E ratio of 20.74. This expresses a discount compared to the average Forward P/E of 24.17 of its industry.
We can additionally observe that NVMI currently boasts a PEG ratio of 5.73. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. NVMI's industry had an average PEG ratio of 3.95 as of yesterday's close.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 141, which puts it in the bottom 45% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.