Zacks: Analysts Anticipate National-Oilwell Varco, Inc. (NOV) Will Announce Earnings of $0.12 Per Share

Wall Street analysts forecast that National-Oilwell Varco, Inc. (NYSE:NOV) will announce $0.12 earnings per share (EPS) for the current quarter, according to Zacks. Ten analysts have made estimates for National-Oilwell Varco’s earnings, with the lowest EPS estimate coming in at $0.08 and the highest estimate coming in at $0.16. National-Oilwell Varco posted earnings per share of ($0.07) during the same quarter last year, which would indicate a positive year-over-year growth rate of 271.4%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, October 25th.

On average, analysts expect that National-Oilwell Varco will report full year earnings of $0.15 per share for the current fiscal year, with EPS estimates ranging from $0.06 to $0.26. For the next fiscal year, analysts expect that the firm will post earnings of $0.99 per share, with EPS estimates ranging from $0.45 to $1.51. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for National-Oilwell Varco.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, July 26th. The oil and gas exploration company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2 billion. National-Oilwell Varco had a negative net margin of 1.09% and a negative return on equity of 0.60%. National-Oilwell Varco’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.14) EPS.

A number of brokerages have commented on NOV. Morgan Stanley began coverage on shares of National-Oilwell Varco in a research report on Tuesday, September 18th. They set an “equal weight” rating and a $50.00 price objective for the company. Stifel Nicolaus began coverage on shares of National-Oilwell Varco in a report on Monday, September 10th. They issued a “buy” rating and a $54.00 price target for the company. Credit Suisse Group set a $43.00 price target on shares of National-Oilwell Varco and gave the company a “hold” rating in a report on Monday, July 30th. Piper Jaffray Companies reiterated a “buy” rating and issued a $53.00 price target on shares of National-Oilwell Varco in a report on Monday, August 6th. Finally, Seaport Global Securities reiterated a “sell” rating and issued a $37.00 price target on shares of National-Oilwell Varco in a report on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company. National-Oilwell Varco presently has a consensus rating of “Hold” and a consensus price target of $44.32.

In related news, Chairman Clay C. Williams sold 465,116 shares of the stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $47.91, for a total value of $22,283,707.56. Following the sale, the chairman now directly owns 811,642 shares of the company’s stock, valued at approximately $38,885,768.22. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Craig L. Weinstock sold 3,709 shares of the stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $48.02, for a total transaction of $178,106.18. Following the completion of the sale, the vice president now directly owns 42,663 shares in the company, valued at $2,048,677.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 514,559 shares of company stock worth $24,588,009. 0.79% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Independent Order of Foresters grew its stake in National-Oilwell Varco by 19.7% in the 2nd quarter. Independent Order of Foresters now owns 7,281 shares of the oil and gas exploration company’s stock valued at $316,000 after acquiring an additional 1,200 shares during the last quarter. State Treasurer State of Michigan boosted its stake in shares of National-Oilwell Varco by 1.1% during the 2nd quarter. State Treasurer State of Michigan now owns 113,078 shares of the oil and gas exploration company’s stock worth $4,908,000 after purchasing an additional 1,200 shares during the last quarter. Whittier Trust Co. boosted its stake in shares of National-Oilwell Varco by 180.6% during the 2nd quarter. Whittier Trust Co. now owns 2,455 shares of the oil and gas exploration company’s stock worth $202,000 after purchasing an additional 1,580 shares during the last quarter. MUFG Americas Holdings Corp boosted its stake in shares of National-Oilwell Varco by 29.8% during the 2nd quarter. MUFG Americas Holdings Corp now owns 7,183 shares of the oil and gas exploration company’s stock worth $312,000 after purchasing an additional 1,650 shares during the last quarter. Finally, Dupont Capital Management Corp boosted its stake in shares of National-Oilwell Varco by 55.9% during the 2nd quarter. Dupont Capital Management Corp now owns 4,960 shares of the oil and gas exploration company’s stock worth $215,000 after purchasing an additional 1,779 shares during the last quarter. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

National-Oilwell Varco stock traded up $0.01 during trading hours on Monday, reaching $41.91. 3,157,276 shares of the stock were exchanged, compared to its average volume of 3,132,769. The company has a market cap of $16.48 billion, a P/E ratio of -99.79, a PEG ratio of 46.67 and a beta of 0.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.75 and a current ratio of 3.19. National-Oilwell Varco has a 52-week low of $31.47 and a 52-week high of $49.08.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.48%. National-Oilwell Varco’s payout ratio is -47.62%.

National-Oilwell Varco Company Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems and components used in oil and gas drilling and production; and provides oilfield services to the upstream oil and gas industry worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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

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