Wall Street analysts predict that National-Oilwell Varco, Inc. (NYSE:NOV) will announce $1.94 billion in sales for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for National-Oilwell Varco’s earnings, with the lowest sales estimate coming in at $1.93 billion and the highest estimate coming in at $1.96 billion. National-Oilwell Varco reported sales of $1.74 billion during the same quarter last year, which would suggest a positive year over year growth rate of 11.5%. The company is expected to announce its next earnings results after the market closes on Thursday, April 26th.
According to Zacks, analysts expect that National-Oilwell Varco will report full-year sales of $1.94 billion for the current financial year, with estimates ranging from $7.68 billion to $8.44 billion. For the next financial year, analysts anticipate that the firm will post sales of $9.35 billion per share, with estimates ranging from $8.01 billion to $10.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow National-Oilwell Varco.
National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Monday, February 5th. The oil and gas exploration company reported ($0.04) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.04). National-Oilwell Varco had a negative net margin of 3.24% and a negative return on equity of 1.10%. The business had revenue of $1.97 billion during the quarter. During the same quarter in the prior year, the company earned ($0.15) EPS.
Several equities analysts have recently weighed in on the company. B. Riley set a $42.00 price objective on National-Oilwell Varco and gave the company a “buy” rating in a report on Thursday, February 8th. Seaport Global Securities restated a “sell” rating and issued a $30.00 price objective on shares of National-Oilwell Varco in a report on Monday, February 12th. ValuEngine upgraded National-Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. SunTrust Banks upgraded National-Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. Finally, Barclays set a $37.00 price objective on National-Oilwell Varco and gave the company an “equal weight” rating in a report on Thursday, February 8th. 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 has an average rating of “Hold” and an average target price of $37.55.
National-Oilwell Varco (NYSE:NOV) traded up $0.42 during mid-day trading on Friday, reaching $36.79. The company’s stock had a trading volume of 1,864,391 shares, compared to its average volume of 3,283,909. The company has a market cap of $14,023.50, a PE ratio of -58.40, a PEG ratio of 23.95 and a beta of 0.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.79 and a current ratio of 3.07. National-Oilwell Varco has a 52-week low of $29.90 and a 52-week high of $40.90.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, March 15th. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. National-Oilwell Varco’s dividend payout ratio is presently -31.75%.
In other news, VP Scott K. Duff sold 7,421 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were 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 SEC, which can be accessed through this link. 0.58% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in NOV. Dupont Capital Management Corp bought a new stake in shares of National-Oilwell Varco during the fourth quarter worth $141,000. Global Trust Asset Management LLC bought a new stake in shares of National-Oilwell Varco during the fourth quarter worth $160,000. CoreCommodity Management LLC bought a new stake in shares of National-Oilwell Varco during the fourth quarter worth $162,000. Avestar Capital LLC bought a new stake in shares of National-Oilwell Varco during the fourth quarter worth $176,000. Finally, Tiedemann Wealth Management LLC grew its stake in shares of National-Oilwell Varco by 77.8% during the third quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock worth $194,000 after buying an additional 5,107 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors.
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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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