Analysts Anticipate National-Oilwell Varco, Inc. (NOV) to Announce -$0.09 EPS

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Brokerages forecast that National-Oilwell Varco, Inc. (NYSE:NOV) will announce ($0.09) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for National-Oilwell Varco’s earnings, with estimates ranging from ($0.20) to $0.00. National-Oilwell Varco reported earnings of ($0.18) per share in the same quarter last year, which suggests a positive year over year growth rate of 50%. The firm is scheduled to announce its next earnings report after the market closes on Thursday, April 25th.

On average, analysts expect that National-Oilwell Varco will report full year earnings of ($0.03) per share for the current financial year, with EPS estimates ranging from ($0.30) to $0.40. For the next year, analysts expect that the business will report earnings of $0.65 per share, with EPS estimates ranging from $0.12 to $1.18. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for National-Oilwell Varco.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Wednesday, February 6th. The oil and gas exploration company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.05). National-Oilwell Varco had a negative return on equity of 0.22% and a negative net margin of 0.37%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the business earned ($0.04) earnings per share. The business’s quarterly revenue was up 21.8% on a year-over-year basis.

NOV has been the subject of a number of analyst reports. Cowen set a $23.00 target price on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Friday, April 12th. UBS Group set a $28.00 target price on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Thursday, December 20th. Royal Bank of Canada set a $31.00 target price on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Friday, February 8th. Goldman Sachs Group initiated coverage on shares of National-Oilwell Varco in a research note on Sunday, March 10th. They set a “neutral” rating and a $33.00 target price for the company. Finally, Raymond James decreased their target price on shares of National-Oilwell Varco from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $38.00.

In related news, VP Scott K. Duff sold 15,125 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $28.02, for a total transaction of $423,802.50. Following the completion of the sale, the vice president now owns 54,098 shares of the company’s stock, valued at $1,515,825.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in NOV. Truvestments Capital LLC purchased a new stake in National-Oilwell Varco in the first quarter worth approximately $26,000. IMS Capital Management purchased a new stake in National-Oilwell Varco in the third quarter worth approximately $44,000. JOYN Advisors Inc. boosted its holdings in National-Oilwell Varco by 166.2% in the fourth quarter. JOYN Advisors Inc. now owns 1,046 shares of the oil and gas exploration company’s stock worth $27,000 after purchasing an additional 653 shares during the last quarter. Enlightenment Research LLC purchased a new stake in National-Oilwell Varco in the fourth quarter worth approximately $28,000. Finally, Moody National Bank Trust Division boosted its holdings in National-Oilwell Varco by 125.0% in the first quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock worth $33,000 after purchasing an additional 685 shares during the last quarter. 93.47% of the stock is owned by institutional investors.

Shares of NYSE NOV traded down $0.28 on Thursday, reaching $26.97. 2,793,487 shares of the company’s stock traded hands, compared to its average volume of 3,747,521. National-Oilwell Varco has a 12 month low of $24.27 and a 12 month high of $49.08. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of -337.13, a P/E/G ratio of 27.20 and a beta of 1.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.83 and a current ratio of 3.11.

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Thursday, March 14th. National-Oilwell Varco’s dividend payout ratio (DPR) is currently -250.00%.

National-Oilwell Varco Company Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.

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Earnings History and Estimates for National-Oilwell Varco (NYSE:NOV)

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