National-Oilwell Varco, Inc. (NOV) to Post FY2017 Earnings of ($0.45) Per Share, Capital One Financial Forecasts
National-Oilwell Varco, Inc. (NYSE:NOV) – Stock analysts at Capital One Financial upped their FY2017 EPS estimates for shares of National-Oilwell Varco in a research note issued to investors on Tuesday. Capital One Financial analyst J. Gibney now forecasts that the oil and gas exploration company will post earnings per share of ($0.45) for the year, up from their prior forecast of ($0.50). Capital One Financial currently has a “Equal Weight” rating on the stock. Capital One Financial also issued estimates for National-Oilwell Varco’s Q4 2017 earnings at ($0.07) EPS, Q1 2018 earnings at ($0.08) EPS, Q3 2018 earnings at ($0.03) EPS, Q4 2018 earnings at $0.01 EPS and FY2018 earnings at ($0.16) EPS.
Several other brokerages also recently commented on NOV. Jefferies Group set a $34.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a report on Thursday, October 5th. Piper Jaffray Companies reissued a “buy” rating and issued a $36.00 target price on shares of National-Oilwell Varco in a report on Tuesday, September 26th. Deutsche Bank began coverage on National-Oilwell Varco in a report on Tuesday, October 10th. They issued a “hold” rating and a $39.00 target price on the stock. Citigroup boosted their target price on National-Oilwell Varco from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, October 5th. Finally, ValuEngine raised National-Oilwell Varco from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $38.00.
National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. National-Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. National-Oilwell Varco’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.34) EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, December 7th. National-Oilwell Varco’s dividend payout ratio is -8.06%.
Large investors have recently bought and sold shares of the business. IHT Wealth Management LLC raised its position in shares of National-Oilwell Varco by 1,923.1% during the 2nd quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after acquiring an additional 500 shares during the last quarter. IBM Retirement Fund bought a new stake in shares of National-Oilwell Varco during the 3rd quarter valued at $200,000. Wrapmanager Inc. bought a new stake in shares of National-Oilwell Varco during the 3rd quarter valued at $202,000. Smith Salley & Associates bought a new stake in shares of National-Oilwell Varco during the 3rd quarter valued at $214,000. Finally, Advisor Partners LLC bought a new stake in shares of National-Oilwell Varco during the 3rd quarter valued at $227,000. 92.56% of the stock is currently owned by hedge funds and other institutional investors.
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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