National-Oilwell Varco, Inc. (NOV) Expected to Announce Quarterly Sales of $1.94 Billion

Wall Street brokerages expect National-Oilwell Varco, Inc. (NYSE:NOV) to report sales of $1.94 billion for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for National-Oilwell Varco’s earnings. National-Oilwell Varco posted sales of $1.80 billion during the same quarter last year, which would indicate a positive year over year growth rate of 7.8%. The company is scheduled to announce its next quarterly earnings results after the market closes on Thursday, April 25th.

On average, analysts expect that National-Oilwell Varco will report full-year sales of $8.62 billion for the current fiscal year, with estimates ranging from $8.30 billion to $8.96 billion. For the next financial year, analysts anticipate that the firm will report sales of $9.82 billion, with estimates ranging from $9.02 billion to $12.03 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for National-Oilwell Varco.

National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Wednesday, February 6th. The oil and gas exploration company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.05). The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned ($0.04) earnings per share.

Several research firms have recently weighed in on NOV. Barclays reissued a “hold” rating and set a $35.00 target price on shares of National-Oilwell Varco in a research report on Friday, January 18th. Zacks Investment Research raised National-Oilwell Varco from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Gabelli reissued a “buy” rating on shares of National-Oilwell Varco in a research report on Monday, February 11th. Seaport Global Securities restated a “sell” rating and set a $24.00 price objective on shares of National-Oilwell Varco in a report on Monday, February 11th. Finally, SunTrust Banks dropped their price objective on National-Oilwell Varco to $29.00 and set a “hold” rating for the company in a report on Monday, February 11th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.00.

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 value of $423,802.50. Following the transaction, the vice president now directly owns 54,098 shares of the company’s stock, valued at $1,515,825.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in NOV. Pzena Investment Management LLC increased its position in National-Oilwell Varco by 37.9% during the fourth quarter. Pzena Investment Management LLC now owns 12,651,572 shares of the oil and gas exploration company’s stock worth $325,145,000 after acquiring an additional 3,475,751 shares during the period. Norges Bank bought a new position in National-Oilwell Varco during the fourth quarter worth about $74,143,000. Lord Abbett & CO. LLC increased its position in National-Oilwell Varco by 1,429.4% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,024,969 shares of the oil and gas exploration company’s stock worth $52,042,000 after acquiring an additional 1,892,569 shares during the period. Ruffer LLP increased its position in National-Oilwell Varco by 44.1% during the fourth quarter. Ruffer LLP now owns 6,049,185 shares of the oil and gas exploration company’s stock worth $155,360,000 after acquiring an additional 1,852,389 shares during the period. Finally, American Century Companies Inc. increased its position in National-Oilwell Varco by 133.5% during the fourth quarter. American Century Companies Inc. now owns 3,110,320 shares of the oil and gas exploration company’s stock worth $79,935,000 after acquiring an additional 1,777,998 shares during the period. 93.47% of the stock is currently owned by institutional investors and hedge funds.

NOV traded down $0.33 on Friday, hitting $27.20. 2,508,940 shares of the company’s stock traded hands, compared to its average volume of 3,515,173. The company has a current ratio of 3.11, a quick ratio of 1.83 and a debt-to-equity ratio of 0.19. National-Oilwell Varco has a one year low of $24.27 and a one year high of $49.08. The company has a market capitalization of $10.30 billion, a PE ratio of -340.00, a price-to-earnings-growth ratio of 23.65 and a beta of 1.22.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Thursday, March 14th. National-Oilwell Varco’s payout ratio is presently -250.00%.

National-Oilwell Varco Company Profile

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.

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

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