FY2017 Earnings Estimate for National Oilwell Varco, Inc. Issued By Jefferies Group (NOV)

National Oilwell Varco, Inc. (NYSE:NOV) – Equities researchers at Jefferies Group lowered their FY2017 EPS estimates for National Oilwell Varco in a research note issued to investors on Monday. Jefferies Group analyst B. Handler now forecasts that the oil and gas exploration company will earn ($0.43) per share for the year, down from their prior estimate of ($0.40). Jefferies Group currently has a “Hold” rating and a $34.00 target price on the stock. Jefferies Group also issued estimates for National Oilwell Varco’s Q4 2017 earnings at ($0.05) EPS, FY2018 earnings at $0.10 EPS, FY2019 earnings at $0.90 EPS and FY2020 earnings at $2.15 EPS.

National Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.01. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. National Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.34) EPS. ILLEGAL ACTIVITY NOTICE: “FY2017 Earnings Estimate for National Oilwell Varco, Inc. Issued By Jefferies Group (NOV)” was first posted by Community Financial News and is the property of of Community Financial News. If you are reading this report on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright laws. The original version of this report can be read at https://www.com-unik.info/2017/11/02/fy2017-earnings-estimate-for-national-oilwell-varco-inc-issued-by-jefferies-group-nov.html.

NOV has been the subject of a number of other reports. Credit Suisse Group set a $35.00 target price on shares of National Oilwell Varco and gave the company a “hold” rating in a report on Saturday, July 29th. FBR & Co reissued a “buy” rating and issued a $42.00 target price on shares of National Oilwell Varco in a report on Thursday, August 31st. Scotiabank set a $37.00 target price on shares of National Oilwell Varco and gave the company a “hold” rating in a report on Friday, July 28th. BidaskClub lowered shares of National Oilwell Varco from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Finally, Cowen and Company set a $30.00 target price on shares of National Oilwell Varco and gave the company a “hold” rating in a report on Friday, October 6th. Six equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $37.92.

Several hedge funds have recently added to or reduced their stakes in NOV. Wellington Management Group LLP raised its holdings in shares of National Oilwell Varco by 15.7% in the first quarter. Wellington Management Group LLP now owns 50,171 shares of the oil and gas exploration company’s stock valued at $2,011,000 after acquiring an additional 6,812 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of National Oilwell Varco by 2.7% in the first quarter. Teachers Advisors LLC now owns 776,665 shares of the oil and gas exploration company’s stock valued at $31,136,000 after acquiring an additional 20,678 shares in the last quarter. Thrivent Financial For Lutherans raised its holdings in shares of National Oilwell Varco by 6.6% in the first quarter. Thrivent Financial For Lutherans now owns 13,980 shares of the oil and gas exploration company’s stock valued at $560,000 after acquiring an additional 860 shares in the last quarter. UBS Group AG raised its holdings in shares of National Oilwell Varco by 46.3% in the first quarter. UBS Group AG now owns 69,253 shares of the oil and gas exploration company’s stock valued at $2,776,000 after acquiring an additional 21,902 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of National Oilwell Varco by 3,138.4% in the first quarter. Renaissance Technologies LLC now owns 353,310 shares of the oil and gas exploration company’s stock valued at $14,164,000 after acquiring an additional 342,400 shares in the last quarter. Hedge funds and other institutional investors own 90.18% of the company’s stock.

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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