Brokerages expect National-Oilwell Varco, Inc. (NYSE:NOV) to report sales of $2.21 billion for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for National-Oilwell Varco’s earnings, with the highest sales estimate coming in at $2.26 billion and the lowest estimate coming in at $2.18 billion. National-Oilwell Varco reported sales of $1.84 billion in the same quarter last year, which suggests a positive year over year growth rate of 20.1%. The firm is scheduled to report its next quarterly earnings report after the market closes on Thursday, October 25th.

On average, analysts expect that National-Oilwell Varco will report full-year sales of $8.37 billion for the current year, with estimates ranging from $8.20 billion to $8.46 billion. For the next fiscal year, analysts forecast that the business will post sales of $9.61 billion, with estimates ranging from $8.79 billion to $10.37 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow National-Oilwell Varco.

National-Oilwell Varco (NYSE:NOV) last released its earnings results on Thursday, July 26th. The oil and gas exploration company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2 billion. National-Oilwell Varco had a negative return on equity of 0.60% and a negative net margin of 1.09%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.14) EPS.

Several equities research analysts have commented on NOV shares. Raymond James boosted their target price on National-Oilwell Varco from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Piper Jaffray Companies reiterated a “buy” rating and set a $53.00 price objective on shares of National-Oilwell Varco in a research note on Monday, August 6th. R. F. Lafferty upgraded National-Oilwell Varco from a “hold” rating to a “buy” rating and upped their price objective for the stock from $41.00 to $51.00 in a research note on Tuesday, August 21st. Stifel Nicolaus began coverage on National-Oilwell Varco in a research note on Monday, September 10th. They set a “buy” rating and a $54.00 price objective on the stock. Finally, Johnson Rice upgraded National-Oilwell Varco from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the stock. National-Oilwell Varco has a consensus rating of “Hold” and an average price target of $44.32.

NYSE NOV traded up $0.27 during trading on Wednesday, hitting $42.18. The stock had a trading volume of 2,373,400 shares, compared to its average volume of 3,128,741. The stock has a market capitalization of $16.48 billion, a price-to-earnings ratio of -100.60, a PEG ratio of 46.67 and a beta of 0.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.75 and a current ratio of 3.19. National-Oilwell Varco has a 12 month low of $31.47 and a 12 month high of $49.08.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Thursday, September 13th. National-Oilwell Varco’s payout ratio is presently -47.62%.

In related news, VP Craig L. Weinstock sold 3,709 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $48.02, for a total transaction of $178,106.18. Following the transaction, the vice president now directly owns 42,663 shares of the company’s stock, valued at approximately $2,048,677.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Clay C. Williams sold 465,116 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $47.91, for a total value of $22,283,707.56. Following the transaction, the chairman now directly owns 811,642 shares in the company, valued at $38,885,768.22. The disclosure for this sale can be found here. Insiders have sold a total of 514,559 shares of company stock worth $24,588,009 over the last three months. 0.79% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Quad Cities Investment Group LLC acquired a new position in shares of National-Oilwell Varco during the 2nd quarter worth approximately $104,000. Whittier Trust Co. increased its holdings in shares of National-Oilwell Varco by 180.6% during the 2nd quarter. Whittier Trust Co. now owns 2,455 shares of the oil and gas exploration company’s stock worth $202,000 after acquiring an additional 1,580 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of National-Oilwell Varco during the 3rd quarter worth approximately $163,000. Vanguard Capital Wealth Advisors acquired a new position in shares of National-Oilwell Varco during the 2nd quarter worth approximately $295,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of National-Oilwell Varco during the 2nd quarter worth approximately $194,000. 95.63% of the stock is currently owned by institutional investors and hedge funds.

About National-Oilwell Varco

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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