Equities analysts predict that National-Oilwell Varco, Inc. (NYSE:NOV) will report sales of $1.94 billion for the current fiscal quarter, according to Zacks. 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 suggests a positive year-over-year growth rate of 11.5%. The business is expected to announce its next earnings report after the market closes on Thursday, April 26th.
On average, 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 expect that the business will post sales of $9.30 billion per share, with estimates ranging from $8.01 billion to $10.10 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow National-Oilwell Varco.
National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Monday, February 5th. The oil and gas exploration company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. The business had revenue of $1.97 billion during the quarter. During the same period last year, the firm earned ($0.15) earnings per share.
A number of research analysts have issued reports on the company. B. Riley reissued a “buy” rating on shares of National-Oilwell Varco in a research note on Wednesday, November 1st. Barclays set a $37.00 target price on National-Oilwell Varco and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Seaport Global Securities restated a “sell” rating and issued a $30.00 price target on shares of National-Oilwell Varco in a report on Monday, February 12th. Cowen boosted their price target on National-Oilwell Varco from $33.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. cut their price target on National-Oilwell Varco from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, October 30th. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $38.13.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial For Lutherans raised its holdings in National-Oilwell Varco by 3.0% during the second quarter. Thrivent Financial For Lutherans now owns 14,400 shares of the oil and gas exploration company’s stock worth $474,000 after acquiring an additional 420 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its holdings in National-Oilwell Varco by 2.4% during the third 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 acquiring an additional 1,500 shares in the last quarter. Bank of Hawaii raised its holdings in National-Oilwell Varco by 4.5% during the third quarter. Bank of Hawaii now owns 36,149 shares of the oil and gas exploration company’s stock worth $1,292,000 after acquiring an additional 1,555 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in National-Oilwell Varco by 14.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 12,580 shares of the oil and gas exploration company’s stock worth $449,000 after acquiring an additional 1,558 shares in the last quarter. Finally, Moors & Cabot Inc. raised its holdings in National-Oilwell Varco by 6.7% during the third quarter. Moors & Cabot Inc. now owns 27,646 shares of the oil and gas exploration company’s stock worth $991,000 after acquiring an additional 1,726 shares in the last quarter. Institutional investors and hedge funds own 91.70% of the company’s stock.
National-Oilwell Varco (NYSE NOV) traded up $0.48 during trading hours on Friday, reaching $35.61. The company’s stock had a trading volume of 3,184,942 shares, compared to its average volume of 3,530,000. National-Oilwell Varco has a 1 year low of $29.90 and a 1 year high of $41.90. The company has a current ratio of 3.07, a quick ratio of 1.79 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $13,530.00, a PE ratio of -56.52, a price-to-earnings-growth ratio of 22.66 and a beta of 0.89.
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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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