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Nova Ltd. (NVMI) Rises But Trails Market: What Investors Should Know
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The most recent trading session ended with Nova Ltd. (NVMI - Free Report) standing at $146.57, reflecting a +0.59% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.76%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq added 1.12%.
Heading into today, shares of the maker of monitoring systems used in chip manufacturing had gained 6.06% over the past month, outpacing the Computer and Technology sector's gain of 4.99% and the S&P 500's gain of 2.5% in that time.
Market participants will be closely following the financial results of Nova Ltd. in its upcoming release. The company plans to announce its earnings on February 15, 2024. The company is predicted to post an EPS of $1.24, indicating a 3.13% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $128 million, indicating a 15.37% decrease compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Nova Ltd. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Nova Ltd. possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Nova Ltd. is currently exchanging hands at a Forward P/E ratio of 27.36. This signifies a discount in comparison to the average Forward P/E of 30.02 for its industry.
One should further note that NVMI currently holds a PEG ratio of 5.05. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Electronics - Semiconductors industry stood at 3 at the close of the market yesterday.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 107, this industry ranks in the top 43% 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.
To follow NVMI in the coming trading sessions, be sure to utilize Zacks.com.
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Nova Ltd. (NVMI) Rises But Trails Market: What Investors Should Know
The most recent trading session ended with Nova Ltd. (NVMI - Free Report) standing at $146.57, reflecting a +0.59% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.76%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq added 1.12%.
Heading into today, shares of the maker of monitoring systems used in chip manufacturing had gained 6.06% over the past month, outpacing the Computer and Technology sector's gain of 4.99% and the S&P 500's gain of 2.5% in that time.
Market participants will be closely following the financial results of Nova Ltd. in its upcoming release. The company plans to announce its earnings on February 15, 2024. The company is predicted to post an EPS of $1.24, indicating a 3.13% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $128 million, indicating a 15.37% decrease compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Nova Ltd. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Nova Ltd. possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Nova Ltd. is currently exchanging hands at a Forward P/E ratio of 27.36. This signifies a discount in comparison to the average Forward P/E of 30.02 for its industry.
One should further note that NVMI currently holds a PEG ratio of 5.05. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Electronics - Semiconductors industry stood at 3 at the close of the market yesterday.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 107, this industry ranks in the top 43% 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.
To follow NVMI in the coming trading sessions, be sure to utilize Zacks.com.