National-Oilwell Varco, Inc. (NOV) Forecasted to Post Q1 2018 Earnings of ($0.01) Per Share

National-Oilwell Varco, Inc. (NYSE:NOV) – Stock analysts at Capital One Financial increased their Q1 2018 earnings estimates for National-Oilwell Varco in a research report issued on Wednesday. Capital One Financial analyst J. Gibney now forecasts that the oil and gas exploration company will post earnings per share of ($0.01) for the quarter, up from their previous forecast of ($0.02). Capital One Financial has a “Equal Weight” rating on the stock. Capital One Financial also issued estimates for National-Oilwell Varco’s Q2 2018 earnings at $0.02 EPS.

Other equities research analysts also recently issued research reports about the company. B. Riley reaffirmed a “buy” rating on shares of National-Oilwell Varco in a report on Wednesday, November 1st. Seaport Global Securities reaffirmed a “sell” rating and issued a $30.00 target price on shares of National-Oilwell Varco in a report on Monday. SunTrust Banks raised National-Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. Barclays reduced their target price on National-Oilwell Varco from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, October 30th. Finally, ValuEngine raised National-Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $38.13.

Shares of National-Oilwell Varco (NOV) opened at $33.66 on Monday. The firm has a market capitalization of $12,790.00, a price-to-earnings ratio of -53.43, a price-to-earnings-growth ratio of 21.05 and a beta of 0.89. National-Oilwell Varco has a twelve month low of $29.90 and a twelve month high of $41.90. The company has a quick ratio of 1.79, a current ratio of 3.07 and a debt-to-equity ratio of 0.19.

National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The firm had revenue of $1.97 billion for the quarter. National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. During the same period in the prior year, the business posted ($0.15) EPS.

A number of large investors have recently made changes to their positions in the stock. Thrivent Financial For Lutherans raised its position in National-Oilwell Varco by 3.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 14,400 shares of the oil and gas exploration company’s stock worth $474,000 after purchasing an additional 420 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in National-Oilwell Varco by 2.4% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 62,957 shares of the oil and gas exploration company’s stock worth $2,249,000 after purchasing an additional 1,500 shares during the last quarter. Bank of Hawaii raised its position in National-Oilwell Varco by 4.5% during the 3rd quarter. Bank of Hawaii now owns 36,149 shares of the oil and gas exploration company’s stock worth $1,292,000 after purchasing an additional 1,555 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in National-Oilwell Varco by 14.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 12,580 shares of the oil and gas exploration company’s stock worth $449,000 after purchasing an additional 1,558 shares during the last quarter. Finally, Moors & Cabot Inc. raised its position in National-Oilwell Varco by 6.7% during the 3rd quarter. Moors & Cabot Inc. now owns 27,646 shares of the oil and gas exploration company’s stock worth $991,000 after purchasing an additional 1,726 shares during the last quarter. 91.70% of the stock is owned by institutional investors and hedge funds.

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About National-Oilwell Varco

National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.

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

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