Q3 2018 Earnings Estimate for National-Oilwell Varco, Inc. Issued By Jefferies Group (NOV)
National-Oilwell Varco, Inc. (NYSE:NOV) – Analysts at Jefferies Group lowered their Q3 2018 earnings estimates for National-Oilwell Varco in a research report issued to clients and investors on Thursday. Jefferies Group analyst B. Handler now expects that the oil and gas exploration company will earn $0.02 per share for the quarter, down from their previous forecast of $0.04. Jefferies Group has a “Hold” rating and a $35.00 price objective on the stock. Jefferies Group also issued estimates for National-Oilwell Varco’s Q4 2018 earnings at $0.10 EPS and FY2018 earnings at $0.05 EPS.
National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. National-Oilwell Varco had a negative return on equity of 1.41% and a negative net margin of 13.33%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.34) EPS.
Other research analysts also recently issued research reports about the company. B. Riley restated a “buy” rating on shares of National-Oilwell Varco in a research note on Wednesday, November 1st. ValuEngine upgraded National-Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Barclays dropped their price target on National-Oilwell Varco from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, October 30th. SunTrust Banks upgraded National-Oilwell Varco from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. Finally, Zacks Investment Research downgraded National-Oilwell Varco from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. National-Oilwell Varco has an average rating of “Hold” and a consensus price target of $38.04.
National-Oilwell Varco (NOV) opened at $38.22 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 1.62. National-Oilwell Varco has a 12 month low of $29.90 and a 12 month high of $41.90.
Institutional investors have recently bought and sold shares of the stock. IHT Wealth Management LLC boosted its stake in shares of National-Oilwell Varco by 1,923.1% in the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock valued at $112,000 after buying an additional 500 shares in the last quarter. IBM Retirement Fund purchased a new stake in shares of National-Oilwell Varco in the third quarter valued at approximately $200,000. Wrapmanager Inc. purchased a new stake in shares of National-Oilwell Varco in the third quarter valued at approximately $202,000. Smith Salley & Associates purchased a new stake in shares of National-Oilwell Varco in the third quarter valued at approximately $214,000. Finally, Advisor Partners LLC purchased a new stake in shares of National-Oilwell Varco in the third quarter valued at approximately $227,000. Hedge funds and other institutional investors own 92.47% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. National-Oilwell Varco’s dividend payout ratio (DPR) is presently -8.03%.
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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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