Enviri’s Stock Shows Mixed Signals Ahead of Earnings Report
The latest trading session concluded with Enviri (NVRI) priced at $10.02, marking a +0.7% change from the previous day’s close. Notably, this shift outperformed the S&P 500, which experienced a slight downturn of 0.03%. In contrast, the Dow dropped by 0.61%, while the tech-heavy Nasdaq saw a gain of 0.56%.
Recent Performance and Earnings Forecast
The industrial services company’s stock has experienced a decline of 3.86% over the past month. This performance diverges sharply from the Business Services sector’s gain of 2.28% and the S&P 500’s increase of 1.39% during the same time frame.
As Enviri approaches its upcoming earnings report scheduled for October 31, 2024, investors are keenly interested in its expected performance. Analysts forecast an earnings per share (EPS) of $0.06, reflecting a 20% increase from the same quarter last year. Additionally, total revenue is anticipated to reach $605.2 million, which would represent a 15.37% rise compared to the same quarter of the previous year.
Full-Year Projections and Analyst Expectations
For the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0 per share and revenue of $2.4 billion, representing increases of 100% and 16.13%, respectively, from the previous year. It will also be advantageous for investors to pay attention to any recent changes in analyst forecasts for Enviri, as these adjustments often highlight shifts in business trends. Increased estimates can signal a positive outlook regarding the company’s profitability.
The Importance of Analyst Ratings
Research indicates a notable connection between estimate changes and stock price movements. Investors might find value in utilizing the Zacks Rank, which assesses these changes and delivers a straightforward rating system. Spanning from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank has a proven history of outperforming, with #1 rated stocks achieving an average annual return of +25% since 1988. Recently, the Zacks Consensus EPS estimate for Enviri surged 100%, and the company currently holds a Zacks Rank of #1 (Strong Buy).
Industry Standing and Zacks Industry Rank
Enviri operates within the Waste Removal Services sector, part of the broader Business Services category. Currently, this industry has a Zacks Industry Rank of 160, placing it in the bottom 37% of over 250 rated industries. The Zacks Industry Rank gauges the strength of distinct industry groups based on the average Zacks Rank of individual stocks within those groups. Historically, the top 50% of industries outperform the bottom half by a ratio of 2 to 1.
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Investors are encouraged to utilize Zacks.com for real-time updates on these key metrics and more during the next trading sessions.
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Enviri Corporation (NVRI): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
