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Nov Inc. (NOV) Gains But Lags Market: What You Should Know

·3 min read

In the latest trading session, Nov Inc. (NOV) closed at $17.15, marking a +0.18% move from the previous day. This move lagged the S&P 500's daily gain of 0.69%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq lost 0.2%.

Coming into today, shares of the oil and gas industry supplier had lost 4.41% in the past month. In that same time, the Business Services sector lost 12.24%, while the S&P 500 lost 9.94%.

Wall Street will be looking for positivity from Nov Inc. as it approaches its next earnings report date. This is expected to be October 27, 2022. The company is expected to report EPS of $0.14, up 227.27% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.81 billion, up 34.94% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.45 per share and revenue of $6.99 billion. These totals would mark changes of +191.84% and +26.54%, respectively, from last year.

Any recent changes to analyst estimates for Nov Inc. should also be noted by investors. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Nov Inc. is currently a Zacks Rank #1 (Strong Buy).

Looking at its valuation, Nov Inc. is holding a Forward P/E ratio of 37.76. For comparison, its industry has an average Forward P/E of 24.25, which means Nov Inc. is trading at a premium to the group.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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