Nova Ltd (NASDAQ: NVMI) has reported earnings for its first fiscal quarter (ending March 31) of $1.27 versus $1.21 for the same period a year ago — an increase of 5%. Relative to the consensus estimate of $1.53, this was a shortfall of $-0.26. For the latest four quarters through March 31, E.P.S. were $4.79 compared to $4.91 a year ago — a decline of -2%.
Recent Price Action
Nova Ltd (NASDAQ: NVMI) stock closed at $193.14 on 5/9/24 after a very large increase of 6.6%. Moreover, trading volume in this advance was exceptionally high at 252% of normal. The stock has risen 15.4% during the last week and has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
NVMI is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Nova has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Nova has a slightly negative Appreciation Score of 33 but a very high Power Rating of 96, leading to the Positive Value Trend Rating.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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