FY2017 Earnings Forecast for National Oilwell Varco, Inc. Issued By SunTrust Banks (NOV)

National Oilwell Varco, Inc. (NYSE:NOV) – SunTrust Banks cut their FY2017 earnings per share (EPS) estimates for shares of National Oilwell Varco in a research note issued to investors on Tuesday. SunTrust Banks analyst K. Sill now forecasts that the oil and gas exploration company will post earnings per share of ($0.43) for the year, down from their previous estimate of ($0.37). SunTrust Banks currently has a “Hold” rating on the stock. SunTrust Banks also issued estimates for National Oilwell Varco’s Q4 2017 earnings at ($0.05) EPS, Q1 2018 earnings at ($0.02) EPS, Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.08 EPS, Q4 2018 earnings at $0.15 EPS and FY2018 earnings at $0.23 EPS.

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

NOV has been the topic of a number of other research reports. FBR & Co reissued a “buy” rating and set a $42.00 price objective on shares of National Oilwell Varco in a report on Thursday, August 31st. Loop Capital raised shares of National Oilwell Varco from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Thursday, August 17th. Piper Jaffray Companies reissued a “buy” rating and set a $36.00 price objective on shares of National Oilwell Varco in a report on Thursday, August 3rd. Zacks Investment Research raised shares of National Oilwell Varco from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Monday, October 9th. Finally, B. Riley reissued a “buy” rating on shares of National Oilwell Varco in a report on Wednesday, November 1st. Five investment analysts have rated the stock with a sell rating, twenty have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. National Oilwell Varco presently has a consensus rating of “Hold” and a consensus target price of $37.83.

Shares of National Oilwell Varco (NOV) traded up $0.44 during trading hours on Friday, reaching $33.99. 541,394 shares of the company traded hands, compared to its average volume of 3,299,489. National Oilwell Varco has a 52-week low of $29.90 and a 52-week high of $43.63. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 2.75.

Several institutional investors and hedge funds have recently bought and sold shares of NOV. Vanguard Group Inc. grew its holdings in shares of 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 in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of 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 in the last quarter. BlackRock Inc. grew its holdings in shares of 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 in the last quarter. Harris Associates L P grew its holdings in shares of 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 in the last quarter. Finally, FMR LLC grew its holdings in shares of 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 in the last quarter. 92.57% of the stock is owned by institutional investors.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, December 7th. National Oilwell Varco’s dividend payout ratio (DPR) is presently -8.06%.

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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.

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

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