Zacks: Analysts Anticipate National-Oilwell Varco, Inc. (NOV) Will Post Quarterly Sales of $1.94 Billion

Brokerages predict that National-Oilwell Varco, Inc. (NYSE:NOV) will post sales of $1.94 billion for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for National-Oilwell Varco’s earnings. The highest sales estimate is $1.95 billion and the lowest is $1.89 billion. National-Oilwell Varco reported sales of $1.69 billion in the same quarter last year, which would suggest a positive year over year growth rate of 14.8%. The business is expected to report its next quarterly earnings report after the market closes on Monday, February 5th.

On average, analysts expect that National-Oilwell Varco will report full year sales of $1.94 billion for the current year, with estimates ranging from $7.23 billion to $7.31 billion. For the next fiscal year, analysts anticipate that the business will report sales of $8.20 billion per share, with estimates ranging from $7.71 billion to $9.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover National-Oilwell Varco.

National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. National-Oilwell Varco had a negative net margin of 13.33% and a negative return on equity of 1.41%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the firm posted ($0.34) EPS. National-Oilwell Varco’s quarterly revenue was up 11.5% on a year-over-year basis.

Several equities research analysts have commented on NOV shares. FBR & Co restated a “buy” rating and set a $42.00 target price on shares of National-Oilwell Varco in a research report on Thursday, August 31st. R. F. Lafferty decreased their target price on shares of National-Oilwell Varco from $33.00 to $31.00 and set a “hold” rating on the stock in a research report on Monday, November 6th. Cowen set a $30.00 target price on shares of National-Oilwell Varco and gave the stock a “hold” rating in a research report on Friday, October 6th. ValuEngine lowered shares of National-Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Finally, Zacks Investment Research upgraded shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Monday, October 9th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $38.00.

Several institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its stake in National-Oilwell Varco by 5.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,534,598 shares of the oil and gas exploration company’s stock valued at $50,550,000 after purchasing an additional 80,412 shares during the last quarter. State of Wisconsin Investment Board raised its stake in National-Oilwell Varco by 36.3% in the 2nd quarter. State of Wisconsin Investment Board now owns 295,313 shares of the oil and gas exploration company’s stock valued at $9,728,000 after purchasing an additional 78,620 shares during the last quarter. Legal & General Group Plc raised its stake in National-Oilwell Varco by 0.3% in the 2nd quarter. Legal & General Group Plc now owns 2,062,436 shares of the oil and gas exploration company’s stock valued at $67,925,000 after purchasing an additional 5,431 shares during the last quarter. Comerica Bank raised its stake in National-Oilwell Varco by 1.0% in the 2nd quarter. Comerica Bank now owns 121,682 shares of the oil and gas exploration company’s stock valued at $4,037,000 after purchasing an additional 1,187 shares during the last quarter. Finally, BB&T Securities LLC raised its stake in National-Oilwell Varco by 15.1% in the 2nd quarter. BB&T Securities LLC now owns 24,328 shares of the oil and gas exploration company’s stock valued at $801,000 after purchasing an additional 3,183 shares during the last quarter. Institutional investors and hedge funds own 92.47% of the company’s stock.

National-Oilwell Varco (NYSE NOV) opened at $35.44 on Friday. National-Oilwell Varco has a 1 year low of $29.90 and a 1 year high of $41.90. The company has a quick ratio of 1.62, a current ratio of 2.75 and a debt-to-equity ratio of 0.19.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. National-Oilwell Varco’s dividend payout ratio is presently -8.03%.

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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.

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

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