National-Oilwell Varco, Inc. (NOV) Expected to Post Earnings of $0.03 Per Share

Brokerages expect National-Oilwell Varco, Inc. (NYSE:NOV) to post $0.03 earnings per share for the current quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for National-Oilwell Varco’s earnings, with the lowest EPS estimate coming in at $0.00 and the highest estimate coming in at $0.05. National-Oilwell Varco reported earnings per share of ($0.14) in the same quarter last year, which would suggest a positive year-over-year growth rate of 121.4%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Thursday, July 26th.

According to Zacks, analysts expect that National-Oilwell Varco will report full year earnings of $0.10 per share for the current year, with EPS estimates ranging from ($0.07) to $0.26. For the next year, analysts anticipate that the business will post earnings of $1.12 per share, with EPS estimates ranging from $0.40 to $1.51. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for National-Oilwell Varco.

National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Thursday, April 26th. The oil and gas exploration company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.13). National-Oilwell Varco had a negative return on equity of 1.15% and a negative net margin of 2.49%. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.81 billion.



A number of brokerages have issued reports on NOV. B. Riley reaffirmed a “neutral” rating and issued a $42.00 target price (up from $40.00) on shares of National-Oilwell Varco in a research note on Tuesday, April 17th. SunTrust Banks set a $31.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research note on Monday, April 16th. Susquehanna Bancshares set a $37.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research note on Friday, April 13th. Wells Fargo & Co raised their target price on National-Oilwell Varco from $37.00 to $47.00 and gave the stock a “market perform” rating in a research note on Thursday, May 24th. Finally, Societe Generale downgraded National-Oilwell Varco from a “buy” rating to a “hold” rating and raised their target price for the stock from $38.32 to $41.00 in a research note on Thursday, April 19th. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $37.63.

In related news, VP Craig L. Weinstock sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $44.03, for a total transaction of $220,150.00. Following the completion of the transaction, the vice president now directly owns 46,372 shares in the company, valued at approximately $2,041,759.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Scott K. Duff sold 40,459 shares of the firm’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $41.02, for a total value of $1,659,628.18. Following the transaction, the vice president now owns 72,697 shares of the company’s stock, valued at $2,982,030.94. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Dupont Capital Management Corp purchased a new position in National-Oilwell Varco during the 4th quarter valued at about $141,000. Bedel Financial Consulting Inc. purchased a new position in National-Oilwell Varco during the 1st quarter valued at about $152,000. CoreCommodity Management LLC purchased a new position in National-Oilwell Varco during the 4th quarter valued at about $162,000. Avestar Capital LLC purchased a new position in National-Oilwell Varco during the 4th quarter valued at about $176,000. Finally, Montag A & Associates Inc. purchased a new position in National-Oilwell Varco during the 1st quarter valued at about $201,000. Institutional investors own 93.90% of the company’s stock.

Shares of NOV traded down $0.68 during midday trading on Friday, reaching $41.48. The company had a trading volume of 4,905,840 shares, compared to its average volume of 2,753,857. National-Oilwell Varco has a 1-year low of $29.90 and a 1-year high of $45.08. The company has a market capitalization of $16.11 billion, a PE ratio of -98.76, a price-to-earnings-growth ratio of 73.19 and a beta of 0.81. The company has a quick ratio of 1.89, a current ratio of 3.37 and a debt-to-equity ratio of 0.19.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Thursday, June 14th. National-Oilwell Varco’s dividend payout ratio (DPR) is -47.62%.

National-Oilwell Varco Company Profile

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

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