Equities analysts predict that National-Oilwell Varco, Inc. (NYSE:NOV) will post sales of $2.10 billion for the current quarter, Zacks Investment Research reports. Ten analysts have issued estimates for National-Oilwell Varco’s earnings, with the lowest sales estimate coming in at $2.07 billion and the highest estimate coming in at $2.20 billion. National-Oilwell Varco posted sales of $1.80 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 16.7%. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, April 25th.
According to Zacks, analysts expect that National-Oilwell Varco will report full-year sales of $8.79 billion for the current financial year, with estimates ranging from $8.41 billion to $9.76 billion. For the next financial year, analysts expect that the business will post sales of $9.88 billion, with estimates ranging from $9.19 billion to $12.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover National-Oilwell Varco.
National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Wednesday, February 6th. The oil and gas exploration company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.05). The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.18 billion. National-Oilwell Varco had a negative return on equity of 0.22% and a negative net margin of 0.37%. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period last year, the business earned ($0.04) EPS.
Several research analysts have weighed in on the stock. Seaport Global Securities reaffirmed a “sell” rating and set a $24.00 target price on shares of National-Oilwell Varco in a research note on Monday, February 11th. Piper Jaffray Companies set a $32.00 target price on shares of National-Oilwell Varco and gave the stock a “buy” rating in a research note on Wednesday, December 26th. Cowen reaffirmed a “market perform” rating and set a $29.00 target price (down previously from $32.00) on shares of National-Oilwell Varco in a research note on Monday, February 11th. Raymond James set a $40.00 target price on shares of National-Oilwell Varco and gave the stock a “buy” rating in a research note on Friday, February 8th. Finally, Barclays reaffirmed a “hold” rating and set a $35.00 target price on shares of National-Oilwell Varco in a research note on Friday, January 18th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have given a buy rating to the company. National-Oilwell Varco currently has a consensus rating of “Hold” and an average price target of $38.83.
NOV stock traded up $0.19 during mid-day trading on Thursday, hitting $26.50. 2,087,634 shares of the company were exchanged, compared to its average volume of 3,751,059. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.11 and a quick ratio of 1.83. The firm has a market cap of $10.27 billion, a PE ratio of -331.25, a price-to-earnings-growth ratio of 22.74 and a beta of 1.23. National-Oilwell Varco has a 12-month low of $24.27 and a 12-month high of $49.08.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. National-Oilwell Varco’s dividend payout ratio is presently -250.00%.
In other news, VP Scott K. Duff sold 15,125 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $28.02, for a total transaction of $423,802.50. Following the sale, the vice president now owns 54,098 shares of the company’s stock, valued at $1,515,825.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. IMS Capital Management acquired a new stake in National-Oilwell Varco in the third quarter valued at approximately $44,000. JOYN Advisors Inc. raised its holdings in National-Oilwell Varco by 166.2% in the fourth quarter. JOYN Advisors Inc. now owns 1,046 shares of the oil and gas exploration company’s stock valued at $27,000 after acquiring an additional 653 shares in the last quarter. Enlightenment Research LLC acquired a new stake in National-Oilwell Varco in the fourth quarter valued at approximately $28,000. grace capital acquired a new stake in National-Oilwell Varco in the fourth quarter valued at approximately $46,000. Finally, Pearl River Capital LLC acquired a new stake in National-Oilwell Varco in the fourth quarter valued at approximately $82,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.
About National-Oilwell Varco
National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.
Recommended Story: What are the benefits of buying treasury bonds?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.