Novanta (NOVT) ZACKS·2024-11-05 14:11Core Viewpoint - Novanta (NOVT) reported quarterly earnings of 0.86 per share, with a year-over-year comparison showing no change in earnings [1] - The company achieved revenues of 221.5 million in the same quarter last year [2] Group 1: Earnings Performance - The earnings surprise for the recent quarter was -1.16%, while the previous quarter saw a positive surprise of 5.80% with actual earnings of 0.69 [1][2] - Over the last four quarters, Novanta has surpassed consensus EPS estimates two times [2] Group 2: Revenue Performance - Novanta's revenue of 221.5 million [2] - The company has exceeded consensus revenue estimates in all four of the last quarters [2] Group 3: Stock Performance and Outlook - Novanta shares have increased by about 3.4% since the beginning of the year, underperforming compared to the S&P 500's gain of 19.8% [3] - The company's future stock performance will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] Group 4: Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is 265.08 million, and for the current fiscal year, it is 973.54 million [7] - The estimate revisions trend for Novanta is currently mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Group 5: Industry Context - The Electronics - Miscellaneous Components industry, to which Novanta belongs, is currently ranked in the top 29% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]