For its second fiscal quarter (ending June 30), Novanta Inc (NASDAQ: NOVT) has reported a -34% decline in E.P.S. from $0.58 a year ago to $0.38 in the current quarter. This performance was $-0.31 short of the consensus estimate of $0.69. For the latest four quarters through June 30, E.P.S. were $1.73 versus $2.15 for the same period a year ago — a decline of -20%.
Recent Price Action
Novanta Inc (NASDAQ: NOVT) stock enjoyed a very large increase of 8.7% on 8/6/24. The shares closed at $170.19. Moreover, unusually high trading volume at 161% of normal accompanied the advance. The stock has been strong relative to the market over the last nine months but has declined -5.9% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, NOVT is expected to continue to be a major Value Builder.
Novanta has a current Value Trend Rating of D (Negative). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Novanta has a very low Appreciation Score of 10 but a neutral Power Rating of 57, leading to the Negative Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of D. This review will be completed in the next several days.
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