Seaport Global analyst Scott Graham maintains $nVent Electric (NVT.US)$ with a hold rating.
According to TipRanks data, the analyst has a success rate of 61.9% and a total average return of 11.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $nVent Electric (NVT.US)$'s main analysts recently are as follows:
Following the third-quarter earnings, expectations are that prices will remain stable, and confidence is placed in the management's disciplined approach to capital deployment and their efforts to reduce stranded costs.
The company's Q3 results were perceived as underwhelming, exhibiting an implied 3% operating miss, alongside uncertainty and reclassification of Thermal into discontinued operations, and modest growth with a mere reaffirmation of the 2024 midpoint. Despite the observed 8% stock decline on Friday, the sentiment remains positive regarding the stock's current valuation.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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