Wall Street analysts expect National-Oilwell Varco, Inc. (NYSE:NOV) to post earnings per share (EPS) of $0.09 for the current quarter, Zacks Investment Research reports. Eleven analysts have made estimates for National-Oilwell Varco’s earnings. The lowest EPS estimate is $0.05 and the highest is $0.11. National-Oilwell Varco reported earnings per share of ($0.04) during the same quarter last year, which would suggest a positive year over year growth rate of 325%. The company is scheduled to announce its next quarterly earnings results on Monday, February 4th.
According to Zacks, analysts expect that National-Oilwell Varco will report full-year earnings of ($0.01) per share for the current fiscal year, with EPS estimates ranging from ($0.06) to $0.10. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.72 per share, with EPS estimates ranging from $0.45 to $1.17. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for National-Oilwell Varco.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research reissued a “strong sell” rating on shares of National-Oilwell Varco in a research note on Wednesday, November 14th. Jefferies Financial Group reissued a “hold” rating and set a $42.00 price target on shares of National-Oilwell Varco in a research note on Monday, July 30th. ValuEngine lowered National-Oilwell Varco from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. Seaport Global Securities reissued a “sell” rating and set a $37.00 price target on shares of National-Oilwell Varco in a research note on Tuesday, July 31st. Finally, UBS Group set a $40.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research note on Tuesday, October 30th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $43.27.
Large investors have recently made changes to their positions in the company. Quad Cities Investment Group LLC purchased a new position in shares of National-Oilwell Varco in the 2nd quarter valued at $104,000. Whittier Trust Co. increased its holdings in shares of National-Oilwell Varco by 180.6% in the 2nd quarter. Whittier Trust Co. now owns 2,455 shares of the oil and gas exploration company’s stock valued at $202,000 after acquiring an additional 1,580 shares during the period. Cerebellum GP LLC purchased a new position in shares of National-Oilwell Varco in the 3rd quarter valued at $163,000. Vanguard Capital Wealth Advisors purchased a new position in shares of National-Oilwell Varco in the 2nd quarter valued at $295,000. Finally, First Hawaiian Bank purchased a new position in shares of National-Oilwell Varco in the 3rd quarter valued at $174,000. Institutional investors and hedge funds own 95.75% of the company’s stock.
Shares of NOV stock traded down $0.93 on Friday, reaching $31.62. 2,677,111 shares of the company’s stock were exchanged, compared to its average volume of 3,997,624. National-Oilwell Varco has a 52 week low of $31.30 and a 52 week high of $49.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.78 and a current ratio of 3.17. The firm has a market capitalization of $12.48 billion, a P/E ratio of -75.29 and a beta of 1.03.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.20 annualized dividend and a yield of 0.63%. National-Oilwell Varco’s payout ratio is currently -47.62%.
National-Oilwell Varco declared that its board has approved a stock repurchase program on Tuesday, November 6th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the oil and gas exploration company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
About National-Oilwell Varco
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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