Q1 2018 EPS Estimates for National-Oilwell Varco, Inc. (NOV) Increased by Analyst

National-Oilwell Varco, Inc. (NYSE:NOV) – Research analysts at Capital One Financial raised their Q1 2018 EPS estimates for National-Oilwell Varco in a research note issued on Wednesday. Capital One Financial analyst J. Gibney now anticipates that the oil and gas exploration company will post earnings per share of ($0.01) for the quarter, up from their previous estimate of ($0.02). Capital One Financial currently has a “Equal Weight” rating on the stock. Capital One Financial also issued estimates for National-Oilwell Varco’s Q2 2018 earnings at $0.02 EPS.

Several other equities research analysts have also recently weighed in on NOV. FBR & Co reiterated a “buy” rating on shares of National-Oilwell Varco in a research report on Monday, October 16th. Zacks Investment Research cut National-Oilwell Varco from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Royal Bank of Canada set a $35.00 price target on National-Oilwell Varco and gave the company a “hold” rating in a research report on Friday, October 27th. Scotiabank set a $37.00 price target on National-Oilwell Varco and gave the company a “hold” rating in a research report on Friday, October 27th. Finally, JPMorgan Chase & Co. decreased their price target on National-Oilwell Varco from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, October 30th. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. National-Oilwell Varco presently has an average rating of “Hold” and a consensus target price of $38.50.

Shares of National-Oilwell Varco (NOV) opened at $33.09 on Monday. National-Oilwell Varco has a 52-week low of $29.90 and a 52-week high of $41.90. The firm has a market capitalization of $12,580.00, a PE ratio of -52.52, a PEG ratio of 18.38 and a beta of 0.89. The company has a current ratio of 3.07, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, meeting the Thomson Reuters’ 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 firm had revenue of $1.97 billion for the quarter. During the same quarter in the prior year, the company earned ($0.15) earnings per share.

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Eagle Investment Management LLC boosted its stake in National-Oilwell Varco by 2.1% in the third 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 in the last quarter. BlackRock Inc. boosted its stake in National-Oilwell Varco by 0.3% in the fourth quarter. BlackRock Inc. now owns 25,257,983 shares of the oil and gas exploration company’s stock worth $909,792,000 after buying an additional 78,663 shares in the last quarter. Parnassus Investments CA boosted its stake in National-Oilwell Varco by 10.1% in the fourth quarter. Parnassus Investments CA now owns 6,929,938 shares of the oil and gas exploration company’s stock worth $249,616,000 after buying an additional 637,925 shares in the last quarter. American Century Companies Inc. boosted its stake in National-Oilwell Varco by 4.2% in the fourth quarter. American Century Companies Inc. now owns 6,390,274 shares of the oil and gas exploration company’s stock worth $230,178,000 after buying an additional 255,563 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in National-Oilwell Varco in the third quarter worth approximately $226,421,000. 91.83% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: This article was posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/02/12/q1-2018-eps-estimates-for-national-oilwell-varco-inc-nov-increased-by-analyst.html.

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)

Receive News & Ratings for National-Oilwell Varco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National-Oilwell Varco and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply