Zacks: Brokerages Expect National-Oilwell Varco, Inc. (NOV) Will Announce Earnings of -$0.04 Per Share

Equities analysts predict that National-Oilwell Varco, Inc. (NYSE:NOV) will announce earnings per share (EPS) of ($0.04) for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for National-Oilwell Varco’s earnings, with estimates ranging from ($0.07) to ($0.02). National-Oilwell Varco reported earnings of ($0.15) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 73.3%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Monday, February 5th.

On average, analysts expect that National-Oilwell Varco will report full year earnings of ($0.41) per share for the current financial year, with EPS estimates ranging from ($0.45) to ($0.34). For the next fiscal year, analysts anticipate that the firm will report earnings of $0.32 per share, with EPS estimates ranging from ($0.16) to $1.00. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for National-Oilwell Varco.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.01. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. National-Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. National-Oilwell Varco’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.34) EPS.

A number of analysts have recently commented on the company. Jefferies Group set a $34.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, October 5th. Piper Jaffray Companies reiterated a “buy” rating and set a $36.00 target price on shares of National-Oilwell Varco in a research report on Tuesday, September 26th. Deutsche Bank assumed coverage on National-Oilwell Varco in a research report on Tuesday, October 10th. They set a “hold” rating and a $39.00 target price on the stock. Citigroup lifted their target price on National-Oilwell Varco from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, October 5th. Finally, ValuEngine upgraded National-Oilwell Varco from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. National-Oilwell Varco has an average rating of “Hold” and an average price target of $37.91.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in National-Oilwell Varco by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 38,794,232 shares of the oil and gas exploration company’s stock worth $1,277,882,000 after purchasing an additional 930,849 shares during the period. First Eagle Investment Management LLC increased its position in National-Oilwell Varco by 2.1% during the 3rd quarter. First Eagle Investment Management LLC now owns 27,068,594 shares of the oil and gas exploration company’s stock worth $967,161,000 after purchasing an additional 563,589 shares during the period. BlackRock Inc. increased its position in National-Oilwell Varco by 1.4% during the 2nd quarter. BlackRock Inc. now owns 25,195,874 shares of the oil and gas exploration company’s stock worth $829,954,000 after purchasing an additional 354,574 shares during the period. Harris Associates L P increased its position in National-Oilwell Varco by 16.0% during the 2nd quarter. Harris Associates L P now owns 18,574,753 shares of the oil and gas exploration company’s stock worth $611,852,000 after purchasing an additional 2,557,484 shares during the period. Finally, FMR LLC increased its position in National-Oilwell Varco by 6.4% during the 2nd quarter. FMR LLC now owns 9,635,851 shares of the oil and gas exploration company’s stock worth $317,405,000 after purchasing an additional 581,712 shares during the period. Hedge funds and other institutional investors own 92.47% of the company’s stock.

National-Oilwell Varco (NYSE:NOV) traded up $1.11 on Thursday, hitting $35.43. The stock had a trading volume of 1,366,716 shares, compared to its average volume of 3,294,021. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 2.75. National-Oilwell Varco has a twelve month low of $29.90 and a twelve month high of $41.90.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, December 7th. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -8.03%.

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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.

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

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