Wall Street brokerages predict that National-Oilwell Varco, Inc. (NYSE:NOV) will report $1.94 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for National-Oilwell Varco’s earnings. The lowest sales estimate is $1.92 billion and the highest is $1.96 billion. National-Oilwell Varco posted sales of $1.74 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.5%. The business is scheduled to report its next earnings report after the market closes on Thursday, April 26th.
According to Zacks, analysts expect that National-Oilwell Varco will report full year sales of $1.94 billion for the current fiscal year, with estimates ranging from $7.68 billion to $8.44 billion. For the next fiscal year, analysts anticipate that the business will report sales of $9.30 billion per share, with estimates ranging from $8.01 billion to $10.10 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow National-Oilwell Varco.
National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.04). National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. The company had revenue of $1.97 billion during the quarter. During the same quarter in the previous year, the firm earned ($0.15) earnings per share.
NOV has been the subject of a number of research reports. Wolfe Research downgraded National-Oilwell Varco from a “market perform” rating to an “underperform” rating in a research note on Tuesday, October 31st. Royal Bank of Canada set a $37.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a research note on Thursday, December 21st. JPMorgan Chase & Co. decreased their target price on National-Oilwell Varco from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, October 30th. Susquehanna Bancshares set a $35.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a research note on Friday, January 12th. Finally, Zacks Investment Research downgraded National-Oilwell Varco from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $38.13.
Shares of National-Oilwell Varco (NOV) traded up $0.48 during mid-day trading on Friday, reaching $35.61. The company’s stock had a trading volume of 3,201,124 shares, compared to its average volume of 3,456,404. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.79 and a current ratio of 3.07. National-Oilwell Varco has a 12 month low of $29.90 and a 12 month high of $41.90. The firm has a market capitalization of $13,530.00, a P/E ratio of -56.52, a P/E/G ratio of 22.36 and a beta of 0.89.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOV. Dupont Capital Management Corp acquired a new stake in National-Oilwell Varco in the fourth quarter worth approximately $141,000. Global Trust Asset Management LLC acquired a new stake in National-Oilwell Varco in the fourth quarter worth approximately $160,000. CoreCommodity Management LLC acquired a new stake in National-Oilwell Varco in the fourth quarter worth approximately $162,000. Avestar Capital LLC acquired a new stake in National-Oilwell Varco in the fourth quarter worth approximately $176,000. Finally, Tiedemann Wealth Management LLC lifted its position in National-Oilwell Varco by 77.8% in the third quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock worth $194,000 after purchasing an additional 5,107 shares during the period. Hedge funds and other institutional investors own 91.70% of the company’s stock.
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National-Oilwell Varco Company Profile
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.
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