Zacks: Brokerages Anticipate National-Oilwell Varco, Inc. (NYSE:NOV) to Announce -$0.06 Earnings Per Share

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Wall Street brokerages expect that National-Oilwell Varco, Inc. (NYSE:NOV) will report earnings of ($0.06) per share for the current quarter, Zacks Investment Research reports. Ten analysts have issued estimates for National-Oilwell Varco’s earnings, with the highest EPS estimate coming in at ($0.02) and the lowest estimate coming in at ($0.14). National-Oilwell Varco reported earnings of $0.06 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 200%. The company is expected to report its next quarterly earnings results after the market closes on Monday, July 29th.

According to Zacks, analysts expect that National-Oilwell Varco will report full-year earnings of ($0.19) per share for the current year, with EPS estimates ranging from ($0.34) to ($0.10). For the next financial year, analysts anticipate that the company will post earnings of $0.53 per share, with EPS estimates ranging from $0.20 to $1.05. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for National-Oilwell Varco.

National-Oilwell Varco (NYSE:NOV) last announced its earnings results on Thursday, April 25th. The oil and gas exploration company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). National-Oilwell Varco had a negative net margin of 0.47% and a negative return on equity of 0.29%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter last year, the business earned ($0.18) earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year.

A number of equities analysts recently commented on NOV shares. TheStreet cut National-Oilwell Varco from a “c-” rating to a “d+” rating in a report on Friday, May 31st. Barclays lowered their target price on National-Oilwell Varco from $32.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. Citigroup set a $31.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a report on Wednesday, May 8th. SunTrust Banks lowered their target price on National-Oilwell Varco to $24.00 and set a “hold” rating for the company in a report on Tuesday, April 16th. Finally, Cowen set a $23.00 target price on National-Oilwell Varco and gave the company a “hold” rating in a report on Friday, April 12th. Seven research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $37.36.

Hedge funds have recently bought and sold shares of the business. Truvestments Capital LLC acquired a new stake in shares of National-Oilwell Varco during the 1st quarter worth about $26,000. JOYN Advisors Inc. raised its position in shares of National-Oilwell Varco by 166.2% during the 4th quarter. JOYN Advisors Inc. now owns 1,046 shares of the oil and gas exploration company’s stock worth $27,000 after acquiring an additional 653 shares in the last quarter. Enlightenment Research LLC acquired a new stake in shares of National-Oilwell Varco during the 4th quarter worth about $28,000. Moody National Bank Trust Division raised its position in shares of National-Oilwell Varco by 125.0% during the 1st quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock worth $33,000 after acquiring an additional 685 shares in the last quarter. Finally, grace capital acquired a new stake in shares of National-Oilwell Varco during the 4th quarter worth about $46,000. 92.82% of the stock is currently owned by institutional investors.

National-Oilwell Varco stock traded down $0.05 during midday trading on Tuesday, reaching $21.22. 240,299 shares of the stock traded hands, compared to its average volume of 4,378,372. The business has a 50-day simple moving average of $22.28. National-Oilwell Varco has a 12-month low of $19.57 and a 12-month high of $49.08. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of -265.13 and a beta of 1.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.81 and a current ratio of 3.30.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, June 13th. National-Oilwell Varco’s dividend payout ratio is currently -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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