NexTier Oilfield Solutions (NEX) Gains As Market Dips: What You Should Know
In the latest trading session, NexTier Oilfield Solutions (NEX) closed at $8.88, marking a +0.34% move from the previous day. This change outpaced the S&P 500's 1.3% loss on the day. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 5.51%.
Prior to today's trading, shares of the company had lost 4.22% over the past month. This has lagged the Oils-Energy sector's gain of 2.85% and the S&P 500's gain of 6.41% in that time.
Investors will be hoping for strength from NexTier Oilfield Solutions as it approaches its next earnings release, which is expected to be February 15, 2023. In that report, analysts expect NexTier Oilfield Solutions to post earnings of $0.46 per share. This would mark year-over-year growth of 475%. Our most recent consensus estimate is calling for quarterly revenue of $871.2 million, up 70.91% from the year-ago period.
It is also important to note the recent changes to analyst estimates for NexTier Oilfield Solutions. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.86% lower. NexTier Oilfield Solutions is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note NexTier Oilfield Solutions's current valuation metrics, including its Forward P/E ratio of 3.93. For comparison, its industry has an average Forward P/E of 13.74, which means NexTier Oilfield Solutions 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 60, putting it in the top 24% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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