NexTier Oilfield Solutions (NEX) Gains But Lags Market: What You Should Know
In the latest trading session, NexTier Oilfield Solutions (NEX) closed at $9.06, marking a +0.33% move from the previous day. This move lagged the S&P 500's daily gain of 1.19%. At the same time, the Dow added 0.76%, and the tech-heavy Nasdaq gained 0.29%.
Heading into today, shares of the company had lost 5.54% over the past month, lagging the Oils-Energy sector's gain of 5.68% and the S&P 500's gain of 4.06% in that time.
Wall Street will be looking for positivity from NexTier Oilfield Solutions as it approaches its next earnings report date. This is expected to be February 15, 2023. The company is expected to report EPS of $0.46, up 475% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $871.2 million, up 70.91% from the year-ago period.
Investors should also note any recent changes to analyst estimates for NexTier Oilfield Solutions. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Within the past 30 days, our consensus EPS projection has moved 0.86% lower. NexTier Oilfield Solutions is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, NexTier Oilfield Solutions is currently trading at a Forward P/E ratio of 4.01. Its industry sports an average Forward P/E of 13.62, so we one might conclude that NexTier Oilfield Solutions is trading at a discount comparatively.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 56, putting it in the top 23% 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.
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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