Brokerages Expect National-Oilwell Varco, Inc. (NOV) to Post -$0.04 Earnings Per Share

Brokerages forecast that National-Oilwell Varco, Inc. (NYSE:NOV) will post earnings of ($0.04) per share for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have issued estimates for National-Oilwell Varco’s earnings, with the lowest EPS estimate coming in at ($0.07) and the highest estimate coming in at ($0.02). National-Oilwell Varco posted earnings of ($0.15) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 73.3%. The firm is scheduled to report its next earnings report after the market closes on Monday, February 5th.

According to Zacks, analysts expect that National-Oilwell Varco will report full year earnings of ($0.40) per share for the current year, with EPS estimates ranging from ($0.45) to ($0.34). For the next year, analysts forecast that the firm will report earnings of $0.32 per share, with EPS estimates ranging from ($0.16) to $0.93. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for National-Oilwell Varco.

National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The company 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%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.34) earnings per share.

NOV has been the topic of several recent analyst reports. B. Riley reissued a “buy” rating on shares of National-Oilwell Varco in a report on Wednesday, November 1st. Cowen set a $33.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a report on Thursday, January 11th. 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. Royal Bank of Canada reissued a “hold” rating and issued a $40.00 target price on shares of National-Oilwell Varco in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. reduced their target price on National-Oilwell Varco from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, October 30th. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $38.08.

Shares of National-Oilwell Varco (NOV) opened at $38.73 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 2.75. The firm has a market capitalization of $14,720.00, a P/E ratio of -15.62, a price-to-earnings-growth ratio of 19.78 and a beta of 0.95. National-Oilwell Varco has a 1-year low of $29.90 and a 1-year high of $41.90.

A number of large investors have recently bought and sold shares of NOV. Hotchkis & Wiley Capital Management LLC acquired a new position in National-Oilwell Varco during the 3rd quarter worth $226,421,000. Harris Associates L P lifted its holdings in 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 buying an additional 2,557,484 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of National-Oilwell Varco by 459.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,639,603 shares of the oil and gas exploration company’s stock valued at $86,948,000 after acquiring an additional 2,167,397 shares during the last quarter. Vanguard Group Inc. raised its position 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 valued at $1,277,882,000 after acquiring an additional 930,849 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of National-Oilwell Varco by 17.1% during the 3rd quarter. Wells Fargo & Company MN now owns 5,248,794 shares of the oil and gas exploration company’s stock valued at $187,541,000 after acquiring an additional 765,634 shares during the last quarter. 91.85% of the stock is currently owned by hedge funds and other institutional investors.

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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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