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Nova Ltd. (NVMI) Increases Yet Falls Behind Market: What Investors Need to Know
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In the latest market close, Nova Ltd. (NVMI - Free Report) reached $99.02, with a +1.71% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 1.89%. Meanwhile, the Dow experienced a rise of 1.7%, and the technology-dominated Nasdaq saw an increase of 1.78%.
Shares of the maker of monitoring systems used in chip manufacturing witnessed a loss of 10.69% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 0.81% and the S&P 500's loss of 1.14%.
The investment community will be paying close attention to the earnings performance of Nova Ltd. in its upcoming release. The company is slated to reveal its earnings on November 9, 2023. The company is expected to report EPS of $1.09, down 12.1% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $123 million, down 14.53% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.45 per share and revenue of $505 million, indicating changes of -12.23% and -11.52%, respectively, compared to the previous 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Nova Ltd. presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Nova Ltd. is holding a Forward P/E ratio of 21.88. Its industry sports an average Forward P/E of 22.96, so one might conclude that Nova Ltd. is trading at a discount comparatively.
We can additionally observe that NVMI currently boasts a PEG ratio of 6.04. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Electronics - Semiconductors industry held an average PEG ratio of 4.2.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 31% of all 250+ industries.
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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Nova Ltd. (NVMI) Increases Yet Falls Behind Market: What Investors Need to Know
In the latest market close, Nova Ltd. (NVMI - Free Report) reached $99.02, with a +1.71% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 1.89%. Meanwhile, the Dow experienced a rise of 1.7%, and the technology-dominated Nasdaq saw an increase of 1.78%.
Shares of the maker of monitoring systems used in chip manufacturing witnessed a loss of 10.69% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 0.81% and the S&P 500's loss of 1.14%.
The investment community will be paying close attention to the earnings performance of Nova Ltd. in its upcoming release. The company is slated to reveal its earnings on November 9, 2023. The company is expected to report EPS of $1.09, down 12.1% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $123 million, down 14.53% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.45 per share and revenue of $505 million, indicating changes of -12.23% and -11.52%, respectively, compared to the previous 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Nova Ltd. presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Nova Ltd. is holding a Forward P/E ratio of 21.88. Its industry sports an average Forward P/E of 22.96, so one might conclude that Nova Ltd. is trading at a discount comparatively.
We can additionally observe that NVMI currently boasts a PEG ratio of 6.04. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Electronics - Semiconductors industry held an average PEG ratio of 4.2.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 31% of all 250+ industries.
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.