$1.94 Billion in Sales Expected for National-Oilwell Varco, Inc. (NOV) This Quarter

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.

TRADEMARK VIOLATION WARNING: “$1.94 Billion in Sales Expected for National-Oilwell Varco, Inc. (NOV) This Quarter” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright legislation. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/02/16/1-94-billion-in-sales-expected-for-national-oilwell-varco-inc-nov-this-quarter.html.

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.

Get a free copy of the Zacks research report on National-Oilwell Varco (NOV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply