U.S. markets closed
  • S&P 500

    4,070.56
    +10.13 (+0.25%)
     
  • Dow 30

    33,978.08
    +28.67 (+0.08%)
     
  • Nasdaq

    11,621.71
    +109.30 (+0.95%)
     
  • Russell 2000

    1,911.46
    +8.39 (+0.44%)
     
  • Crude Oil

    79.38
    -1.63 (-2.01%)
     
  • Gold

    1,943.90
    -2.80 (-0.14%)
     
  • Silver

    23.73
    -0.30 (-1.23%)
     
  • EUR/USD

    1.0874
    -0.0018 (-0.1631%)
     
  • 10-Yr Bond

    3.5180
    +0.0250 (+0.72%)
     
  • Vix

    18.51
    -0.22 (-1.17%)
     
  • GBP/USD

    1.2395
    -0.0012 (-0.0967%)
     
  • USD/JPY

    129.8000
    -0.3530 (-0.2712%)
     
  • BTC-USD

    22,976.19
    +29.02 (+0.13%)
     
  • CMC Crypto 200

    526.66
    +9.65 (+1.87%)
     
  • FTSE 100

    7,765.15
    +4.04 (+0.05%)
     
  • Nikkei 225

    27,382.56
    +19.81 (+0.07%)
     

Nine Energy Service (NINE) Outpaces Stock Market Gains: What You Should Know

Nine Energy Service (NINE) closed the most recent trading day at $16.35, moving +0.99% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.4%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 1.1%.

Coming into today, shares of the oilfield services company had gained 59.35% in the past month. In that same time, the Oils-Energy sector gained 5.03%, while the S&P 500 lost 0.01%.

Wall Street will be looking for positivity from Nine Energy Service as it approaches its next earnings report date. The company is expected to report EPS of $0.36, up 169.23% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $165 million, up 57.01% from the prior-year quarter.

Investors should also note any recent changes to analyst estimates for Nine Energy Service. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.18% lower within the past month. Nine Energy Service is currently a Zacks Rank #3 (Hold).

Investors should also note Nine Energy Service's current valuation metrics, including its Forward P/E ratio of 7.23. For comparison, its industry has an average Forward P/E of 13.86, which means Nine Energy Service is trading at a discount to the group.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 35, putting it in the top 14% 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 NINE in the coming trading sessions, be sure to utilize Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Nine Energy Service, Inc. (NINE) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research