Wall Street brokerages forecast that National-Oilwell Varco, Inc. (NYSE:NOV) will report sales of $1.94 billion for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have issued estimates for National-Oilwell Varco’s earnings, with the lowest sales estimate coming in at $1.92 billion and the highest estimate coming in at $1.96 billion. National-Oilwell Varco reported sales of $1.74 billion in the same quarter last year, which would suggest a positive year over year growth rate of 11.5%. The company is expected to announce its next quarterly earnings results on Wednesday, April 25th.

According to Zacks, analysts expect that National-Oilwell Varco will report full-year sales of $1.94 billion for the current fiscal year, with estimates ranging from $7.68 billion to $8.44 billion. For the next fiscal year, analysts expect that the firm will report sales of $9.30 billion per share, with estimates ranging from $8.01 billion to $10.10 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for National-Oilwell Varco.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. The company had revenue of $1.97 billion during the quarter. During the same quarter in the prior year, the firm earned ($0.15) EPS.

A number of brokerages have recently issued reports on NOV. Seaport Global Securities restated a “sell” rating and set a $30.00 price objective on shares of National-Oilwell Varco in a report on Monday. B. Riley set a $42.00 price objective on National-Oilwell Varco and gave the stock a “buy” rating in a report on Thursday, February 8th. Barclays set a $37.00 price objective on National-Oilwell Varco and gave the stock an “equal weight” rating in a report on Thursday, February 8th. TheStreet upgraded National-Oilwell Varco from a “d+” rating to a “c” rating in a report on Tuesday, February 6th. Finally, Cowen boosted their price objective on National-Oilwell Varco from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, February 8th. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $38.13.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial For Lutherans raised its position in shares of National-Oilwell Varco by 3.0% in the second quarter. Thrivent Financial For Lutherans now owns 14,400 shares of the oil and gas exploration company’s stock valued at $474,000 after buying an additional 420 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in National-Oilwell Varco by 2.4% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 62,957 shares of the oil and gas exploration company’s stock valued at $2,249,000 after purchasing an additional 1,500 shares in the last quarter. Bank of Hawaii raised its position in National-Oilwell Varco by 4.5% during the third quarter. Bank of Hawaii now owns 36,149 shares of the oil and gas exploration company’s stock valued at $1,292,000 after purchasing an additional 1,555 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in National-Oilwell Varco by 14.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 12,580 shares of the oil and gas exploration company’s stock valued at $449,000 after purchasing an additional 1,558 shares in the last quarter. Finally, Moors & Cabot Inc. raised its position in National-Oilwell Varco by 6.7% during the third quarter. Moors & Cabot Inc. now owns 27,646 shares of the oil and gas exploration company’s stock valued at $991,000 after purchasing an additional 1,726 shares in the last quarter. Institutional investors own 91.70% of the company’s stock.

Shares of National-Oilwell Varco (NYSE:NOV) traded up $1.46 during trading hours on Friday, hitting $35.12. The stock had a trading volume of 2,522,749 shares, compared to its average volume of 3,331,576. National-Oilwell Varco has a 12 month low of $29.90 and a 12 month high of $41.90. The company has a market capitalization of $12,810.88, a PE ratio of -55.75, a PEG ratio of 22.09 and a beta of 0.89. The company has a current ratio of 3.07, a quick ratio of 1.79 and a debt-to-equity ratio of 0.19.

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National-Oilwell Varco Company Profile

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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