-$0.14 Earnings Per Share Expected for National Oilwell Varco, Inc. (NOV) This Quarter
Brokerages expect National Oilwell Varco, Inc. (NYSE:NOV) to post earnings per share (EPS) of ($0.14) for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for National Oilwell Varco’s earnings. The lowest EPS estimate is ($0.19) and the highest is ($0.10). National Oilwell Varco reported earnings per share of ($0.30) during the same quarter last year, which indicates a positive year over year growth rate of 53.3%. The firm is scheduled to announce its next earnings results after the market closes on Thursday, July 27th.
On average, analysts expect that National Oilwell Varco will report full-year earnings of ($0.37) per share for the current fiscal year, with EPS estimates ranging from ($0.58) to ($0.12). For the next fiscal year, analysts anticipate that the firm will post earnings of $0.73 per share, with EPS estimates ranging from $0.07 to $1.55. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow National Oilwell Varco.
National Oilwell Varco (NYSE:NOV) last posted its earnings results on Wednesday, April 26th. The oil and gas exploration company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.03. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.67 billion. National Oilwell Varco had a negative return on equity of 2.44% and a negative net margin of 35.50%. National Oilwell Varco’s revenue for the quarter was down 20.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.06) earnings per share.
A number of equities analysts have commented on the stock. Piper Jaffray Companies upgraded shares of National Oilwell Varco from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $36.00 to $37.00 in a report on Tuesday, June 20th. BMO Capital Markets reiterated a “sell” rating and issued a $30.00 price objective on shares of National Oilwell Varco in a report on Thursday, June 22nd. Argus upgraded shares of National Oilwell Varco from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Friday, March 3rd. Vetr upgraded shares of National Oilwell Varco from a “buy” rating to a “strong-buy” rating and set a $45.00 price objective on the stock in a report on Monday, April 10th. Finally, Morgan Stanley restated an “overweight” rating and issued a $50.00 target price (down previously from $60.00) on shares of National Oilwell Varco in a research note on Wednesday, June 21st. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. National Oilwell Varco currently has an average rating of “Hold” and an average price target of $39.47.
Several large investors have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. increased its stake in shares of National Oilwell Varco by 13.1% in the first quarter. Nomura Asset Management Co. Ltd. now owns 234,915 shares of the oil and gas exploration company’s stock valued at $9,416,000 after buying an additional 27,197 shares during the period. Clearbridge Investments LLC increased its stake in shares of National Oilwell Varco by 2.8% in the first quarter. Clearbridge Investments LLC now owns 13,209,045 shares of the oil and gas exploration company’s stock valued at $529,551,000 after buying an additional 359,809 shares during the period. Piedmont Investment Advisors LLC increased its stake in shares of National Oilwell Varco by 1.8% in the first quarter. Piedmont Investment Advisors LLC now owns 152,577 shares of the oil and gas exploration company’s stock valued at $6,117,000 after buying an additional 2,711 shares during the period. Palisades Hudson Asset Management L.P. purchased a new stake in shares of National Oilwell Varco during the first quarter valued at approximately $213,000. Finally, Achmea Investment Management B.V. purchased a new stake in shares of National Oilwell Varco during the first quarter valued at approximately $4,483,000. Institutional investors and hedge funds own 91.55% of the company’s stock.
National Oilwell Varco (NYSE NOV) traded up 0.22% during trading on Wednesday, reaching $31.77. The company had a trading volume of 2,504,517 shares. National Oilwell Varco has a 52-week low of $29.79 and a 52-week high of $43.63. The company’s market capitalization is $12.07 billion. The stock has a 50 day moving average price of $33.59 and a 200-day moving average price of $37.31.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. National Oilwell Varco’s dividend payout ratio (DPR) is presently -3.12%.
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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