Wall Street brokerages expect National-Oilwell Varco, Inc. (NYSE:NOV) to announce earnings of ($0.01) per share for the current quarter, according to Zacks. Ten analysts have made estimates for National-Oilwell Varco’s earnings. The lowest EPS estimate is ($0.03) and the highest is $0.01. National-Oilwell Varco reported earnings of ($0.17) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 94.1%. The firm is expected to report its next earnings report after the market closes on Thursday, April 26th.
On average, analysts expect that National-Oilwell Varco will report full-year earnings of $0.26 per share for the current financial year, with EPS estimates ranging from $0.05 to $0.51. For the next financial year, analysts expect that the company will post earnings of $1.09 per share, with EPS estimates ranging from $0.25 to $1.55. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover 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) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The company 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 quarter in the prior year, the company earned ($0.15) EPS.
A number of brokerages have recently weighed in on NOV. Zacks Investment Research upgraded National-Oilwell Varco from a “sell” rating to a “hold” rating in a report on Tuesday. Seaport Global Securities reiterated a “sell” rating and issued a $30.00 target price on shares of National-Oilwell Varco in a report on Monday, February 12th. B. Riley set a $42.00 target price on National-Oilwell Varco and gave the company a “buy” rating in a report on Thursday, February 8th. Barclays set a $37.00 target price on National-Oilwell Varco and gave the company an “equal weight” rating in a report on Thursday, February 8th. Finally, TheStreet upgraded National-Oilwell Varco from a “d+” rating to a “c” rating in a report on Tuesday, February 6th. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. National-Oilwell Varco presently has a consensus rating of “Hold” and a consensus price target of $37.55.
In other National-Oilwell Varco news, VP Scott K. Duff sold 7,421 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $35.66, for a total transaction of $264,632.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Dupont Capital Management Corp bought a new stake in National-Oilwell Varco during the fourth quarter worth approximately $141,000. Global Trust Asset Management LLC bought a new stake in National-Oilwell Varco during the fourth quarter worth approximately $160,000. CoreCommodity Management LLC bought a new stake in National-Oilwell Varco during the fourth quarter worth approximately $162,000. Avestar Capital LLC bought a new stake in shares of National-Oilwell Varco in the fourth quarter valued at approximately $176,000. Finally, Cadence Bank NA bought a new stake in shares of National-Oilwell Varco in the fourth quarter valued at approximately $201,000. 93.57% of the stock is owned by hedge funds and other institutional investors.
Shares of National-Oilwell Varco (NYSE:NOV) traded down $1.17 on Thursday, hitting $36.17. The stock had a trading volume of 1,472,993 shares, compared to its average volume of 3,277,228. The firm has a market cap of $14,183.16, a P/E ratio of -57.35, a price-to-earnings-growth ratio of 23.86 and a beta of 0.88. National-Oilwell Varco has a one year low of $29.90 and a one year high of $40.90. The company has a quick ratio of 1.79, a current ratio of 3.07 and a debt-to-equity ratio of 0.19.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 16th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, March 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. National-Oilwell Varco’s payout ratio is currently -31.75%.
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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.
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