$0.02 EPS Expected for National-Oilwell Varco, Inc. (NOV) This Quarter

Brokerages expect that National-Oilwell Varco, Inc. (NYSE:NOV) will announce earnings of $0.02 per share for the current quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for National-Oilwell Varco’s earnings. The highest EPS estimate is $0.05 and the lowest is $0.00. National-Oilwell Varco reported earnings per share of ($0.14) in the same quarter last year, which suggests a positive year-over-year growth rate of 114.3%. The firm is expected to announce its next quarterly earnings results after the market closes on Thursday, July 26th.

According to Zacks, analysts expect that National-Oilwell Varco will report full-year earnings of $0.10 per share for the current year, with EPS estimates ranging from ($0.15) to $0.26. For the next year, analysts anticipate that the firm will report earnings of $1.11 per share, with EPS estimates ranging from $0.30 to $1.51. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow National-Oilwell Varco.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, April 26th. The oil and gas exploration company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.13). National-Oilwell Varco had a negative return on equity of 1.15% and a negative net margin of 2.49%. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.81 billion.

Several brokerages recently weighed in on NOV. SunTrust Banks set a $31.00 price objective on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Monday, April 16th. Zacks Investment Research upgraded National-Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. ValuEngine upgraded National-Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Friday, March 23rd. Societe Generale downgraded National-Oilwell Varco from a “buy” rating to a “hold” rating and upped their price objective for the stock from $38.32 to $41.00 in a research report on Thursday, April 19th. Finally, Argus restated a “buy” rating and set a $51.00 price objective on shares of National-Oilwell Varco in a research report on Thursday, May 17th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $37.63.

In other news, VP Scott K. Duff sold 40,459 shares of the stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $41.02, for a total value of $1,659,628.18. Following the completion of the sale, the vice president now owns 72,697 shares of the company’s stock, valued at $2,982,030.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Craig L. Weinstock sold 5,000 shares of the company’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $44.03, for a total value of $220,150.00. Following the sale, the vice president now owns 46,372 shares in the company, valued at approximately $2,041,759.16. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of National-Oilwell Varco by 0.3% during the 4th quarter. BlackRock Inc. now owns 25,257,983 shares of the oil and gas exploration company’s stock valued at $909,792,000 after purchasing an additional 78,663 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of National-Oilwell Varco by 3.1% during the 1st quarter. Wells Fargo & Company MN now owns 5,354,118 shares of the oil and gas exploration company’s stock valued at $197,086,000 after purchasing an additional 159,249 shares in the last quarter. Lyrical Asset Management LP boosted its position in shares of National-Oilwell Varco by 5.9% during the 4th quarter. Lyrical Asset Management LP now owns 4,687,024 shares of the oil and gas exploration company’s stock valued at $168,827,000 after purchasing an additional 261,103 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of National-Oilwell Varco by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 4,087,478 shares of the oil and gas exploration company’s stock valued at $146,919,000 after purchasing an additional 178,375 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of National-Oilwell Varco by 3.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,924,962 shares of the oil and gas exploration company’s stock valued at $105,358,000 after purchasing an additional 106,151 shares in the last quarter. Institutional investors own 93.90% of the company’s stock.

Shares of NOV stock traded down $0.14 on Friday, hitting $42.16. 1,993,982 shares of the company’s stock were exchanged, compared to its average volume of 3,135,409. The company has a quick ratio of 1.89, a current ratio of 3.37 and a debt-to-equity ratio of 0.19. National-Oilwell Varco has a 12 month low of $29.90 and a 12 month high of $45.08. The company has a market cap of $16.11 billion, a P/E ratio of -100.38, a P/E/G ratio of 68.00 and a beta of 0.81.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be paid a $0.05 dividend. The ex-dividend date is Thursday, June 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.47%. National-Oilwell Varco’s payout ratio is -47.62%.

National-Oilwell Varco Company Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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