Analysts expect that National Oilwell Varco, Inc. (NYSE:NOV) will post $1.93 billion in sales for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for National Oilwell Varco’s earnings, with the highest sales estimate coming in at $1.95 billion and the lowest estimate coming in at $1.88 billion. National Oilwell Varco reported sales of $1.69 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.2%. The firm is scheduled to announce 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 sales of $1.93 billion for the current financial year, with estimates ranging from $7.23 billion to $7.31 billion. For the next fiscal year, analysts expect that the company will post sales of $8.17 billion per share, with estimates ranging from $7.64 billion to $9.22 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow National Oilwell Varco.

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

Several equities analysts recently issued reports on the company. SunTrust Banks upgraded National Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. ValuEngine lowered National Oilwell Varco from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. B. Riley restated a “buy” rating on shares of National Oilwell Varco in a research note on Wednesday, November 1st. R. F. Lafferty lowered their price target on National Oilwell Varco from $33.00 to $31.00 and set a “hold” rating on the stock in a research note on Monday, November 6th. Finally, Wolfe Research lowered National Oilwell Varco from a “market perform” rating to an “underperform” rating in a research note on Tuesday, October 31st. Five investment analysts have rated the stock with a sell rating, twenty have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $38.00.

National Oilwell Varco (NYSE NOV) opened at $33.98 on Tuesday. National Oilwell Varco has a 12 month low of $29.90 and a 12 month high of $43.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 1.62.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Thursday, December 7th. National Oilwell Varco’s payout ratio is currently -8.06%.

Several institutional investors and hedge funds have recently made changes to their positions in NOV. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of National Oilwell Varco in the 3rd quarter worth approximately $226,421,000. Harris Associates L P boosted its holdings in shares of National Oilwell Varco by 16.0% in 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 acquiring an additional 2,557,484 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of National Oilwell Varco by 459.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,639,603 shares of the oil and gas exploration company’s stock worth $86,948,000 after acquiring an additional 2,167,397 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of National Oilwell Varco by 33.6% in the 2nd quarter. American Century Companies Inc. now owns 5,924,558 shares of the oil and gas exploration company’s stock worth $195,155,000 after acquiring an additional 1,491,359 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of National Oilwell Varco by 2.5% in 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 acquiring an additional 930,849 shares in the last quarter. 92.56% of the stock is currently owned by institutional investors and hedge funds.

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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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