Wall Street analysts expect National-Oilwell Varco, Inc. (NYSE:NOV) to report earnings per share (EPS) of ($0.07) for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have issued estimates for National-Oilwell Varco’s earnings, with estimates ranging from ($0.16) to ($0.02). National-Oilwell Varco posted earnings per share of $0.06 in the same quarter last year, which would indicate a negative year over year growth rate of 216.7%. The company is scheduled to report its next earnings results after the market closes on Monday, July 29th.
On average, analysts expect that National-Oilwell Varco will report full-year earnings of ($0.20) per share for the current year, with EPS estimates ranging from ($0.31) to ($0.10). For the next financial year, analysts forecast that the firm will report earnings of $0.42 per share, with EPS estimates ranging from ($0.01) to $1.05. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for National-Oilwell Varco.
National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). National-Oilwell Varco had a negative net margin of 0.47% and a negative return on equity of 0.29%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the firm posted ($0.18) EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis.
Several equities research analysts recently commented on NOV shares. AltaCorp Capital restated a “sector perform” rating on shares of STEP Energy Services in a research report on Thursday, June 20th. ValuEngine lowered Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Bank of America reiterated an “underperform” rating and issued a $1.25 price target (down previously from $4.50) on shares of Superior Energy Services in a report on Tuesday, June 25th. Raymond James reissued an “average” rating and issued a $23.00 price objective on shares of in a research note on Monday, April 15th. Finally, Zacks Investment Research downgraded GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Seven research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. National-Oilwell Varco has a consensus rating of “Hold” and a consensus price target of $37.08.
Shares of NYSE NOV traded down $0.07 during trading on Thursday, reaching $22.02. The company had a trading volume of 4,139,300 shares, compared to its average volume of 4,054,142. The company has a fifty day simple moving average of $21.40. National-Oilwell Varco has a 12 month low of $19.57 and a 12 month high of $49.08. The company has a market cap of $8.52 billion, a PE ratio of -275.25 and a beta of 1.28. The company has a current ratio of 3.30, a quick ratio of 1.81 and a debt-to-equity ratio of 0.18.
The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Thursday, June 13th. National-Oilwell Varco’s dividend payout ratio is currently -250.00%.
Large investors have recently added to or reduced their stakes in the business. Securian Asset Management Inc raised its position in National-Oilwell Varco by 1.2% during the first quarter. Securian Asset Management Inc now owns 39,161 shares of the oil and gas exploration company’s stock valued at $1,043,000 after purchasing an additional 480 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in National-Oilwell Varco by 0.9% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 58,266 shares of the oil and gas exploration company’s stock valued at $1,552,000 after acquiring an additional 520 shares in the last quarter. Parallel Advisors LLC boosted its position in National-Oilwell Varco by 33.6% during the 1st quarter. Parallel Advisors LLC now owns 2,334 shares of the oil and gas exploration company’s stock valued at $62,000 after acquiring an additional 587 shares in the last quarter. Mason Street Advisors LLC boosted its position in National-Oilwell Varco by 1.2% during the 1st quarter. Mason Street Advisors LLC now owns 54,702 shares of the oil and gas exploration company’s stock valued at $1,457,000 after acquiring an additional 653 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its position in National-Oilwell Varco by 125.0% during the 1st quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock valued at $33,000 after acquiring an additional 685 shares in the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.
About National-Oilwell Varco
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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