Equities Analysts Offer Predictions for National-Oilwell Varco, Inc.’s Q1 2018 Earnings (NOV)

National-Oilwell Varco, Inc. (NYSE:NOV) – Analysts at B. Riley decreased their Q1 2018 EPS estimates for National-Oilwell Varco in a research note issued on Thursday. B. Riley analyst T. Curran now anticipates that the oil and gas exploration company will post earnings per share of ($0.01) for the quarter, down from their prior forecast of $0.07. B. Riley has a “Buy” rating and a $42.00 price objective on the stock. B. Riley also issued estimates for National-Oilwell Varco’s Q2 2018 earnings at $0.07 EPS, Q4 2018 earnings at $0.26 EPS and FY2018 earnings at $0.51 EPS.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.04). National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. The business had revenue of $1.97 billion during the quarter. During the same period in the previous year, the firm posted ($0.15) earnings per share.

A number of other research analysts have also issued reports on NOV. Cowen lifted their target price on National-Oilwell Varco from $33.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday. Barclays set a $37.00 target price on National-Oilwell Varco and gave the company an “equal weight” rating in a report on Thursday. TheStreet upgraded National-Oilwell Varco from a “d+” rating to a “c” rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. decreased their target price on National-Oilwell Varco from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, October 30th. Finally, ValuEngine lowered National-Oilwell Varco from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. National-Oilwell Varco has a consensus rating of “Hold” and an average target price of $38.50.

Shares of National-Oilwell Varco (NYSE NOV) opened at $33.09 on Monday. National-Oilwell Varco has a one year low of $29.90 and a one year high of $41.90. The company has a quick ratio of 1.62, a current ratio of 3.07 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $12,580.00, a price-to-earnings ratio of -52.52, a PEG ratio of 18.38 and a beta of 0.89.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Eagle Investment Management LLC lifted its holdings in 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 buying an additional 563,589 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of National-Oilwell Varco by 0.3% in the 4th quarter. BlackRock Inc. now owns 25,257,983 shares of the oil and gas exploration company’s stock valued at $909,792,000 after purchasing an additional 78,663 shares during the last quarter. Parnassus Investments CA lifted its holdings in shares of National-Oilwell Varco by 10.1% in the 4th quarter. Parnassus Investments CA now owns 6,929,938 shares of the oil and gas exploration company’s stock valued at $249,616,000 after purchasing an additional 637,925 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of National-Oilwell Varco by 4.2% in the 4th quarter. American Century Companies Inc. now owns 6,390,274 shares of the oil and gas exploration company’s stock valued at $230,178,000 after purchasing an additional 255,563 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of National-Oilwell Varco in the 3rd quarter valued at about $226,421,000. 91.83% of the stock is owned by 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.

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

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