Brokerages expect National Oilwell Varco, Inc. (NYSE:NOV) to report sales of $1.87 billion for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for National Oilwell Varco’s earnings. The highest sales estimate is $1.98 billion and the lowest is $1.83 billion. National Oilwell Varco posted sales of $1.65 billion during the same quarter last year, which suggests a positive year over year growth rate of 13.3%. The company is scheduled to report its next quarterly earnings results on Wednesday, October 25th.

On average, analysts expect that National Oilwell Varco will report full-year sales of $1.87 billion for the current fiscal year, with estimates ranging from $7.18 billion to $7.62 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $8.37 billion per share, with estimates ranging from $7.59 billion to $10.21 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow National Oilwell Varco.

National Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.14). The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.78 billion. National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. National Oilwell Varco’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.30) earnings per share.

A number of analysts have recently commented on the company. Zacks Investment Research downgraded National Oilwell Varco from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Jefferies Group LLC set a $38.00 price objective on National Oilwell Varco and gave the stock a “hold” rating in a research note on Thursday, April 27th. BidaskClub raised National Oilwell Varco from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Piper Jaffray Companies set a $37.00 price objective on National Oilwell Varco and gave the stock a “buy” rating in a research note on Thursday, July 27th. Finally, Scotiabank set a $37.00 price objective on National Oilwell Varco and gave the stock a “hold” rating in a research note on Friday, July 28th. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $38.59.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of National Oilwell Varco by 2.5% in the second 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 buying an additional 930,849 shares during the period. First Eagle Investment Management LLC increased its position in shares of National Oilwell Varco by 1.7% in the second quarter. First Eagle Investment Management LLC now owns 26,505,005 shares of the oil and gas exploration company’s stock worth $873,075,000 after buying an additional 452,148 shares during the period. BlackRock Inc. increased its position in shares of National Oilwell Varco by 1.4% in the second quarter. BlackRock Inc. now owns 25,195,874 shares of the oil and gas exploration company’s stock worth $829,954,000 after buying an additional 354,574 shares during the period. Harris Associates L P increased its position in shares of National Oilwell Varco by 16.0% in the second 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 buying an additional 2,557,484 shares during the period. Finally, Clearbridge Investments LLC increased its position 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 worth $529,551,000 after buying an additional 359,809 shares during the period. Hedge funds and other institutional investors own 91.63% of the company’s stock.

National Oilwell Varco (NYSE NOV) traded up 1.09% on Monday, reaching $30.62. The company’s stock had a trading volume of 1,800,213 shares. The firm has a 50-day moving average price of $32.69 and a 200 day moving average price of $35.77. The firm’s market capitalization is $11.64 billion. National Oilwell Varco has a 52-week low of $30.14 and a 52-week high of $43.63.

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

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