Wall Street brokerages expect National-Oilwell Varco, Inc. (NYSE:NOV) to announce sales of $2.08 billion for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for National-Oilwell Varco’s earnings, with the highest sales estimate coming in at $2.10 billion and the lowest estimate coming in at $2.06 billion. National-Oilwell Varco reported sales of $2.11 billion during the same quarter last year, which would suggest a negative year over year growth rate of 1.4%. The firm is expected to issue its next earnings report after the market closes on Monday, July 29th.
On average, analysts expect that National-Oilwell Varco will report full year sales of $8.45 billion for the current financial year, with estimates ranging from $8.26 billion to $8.61 billion. For the next financial year, analysts anticipate that the firm will report sales of $9.38 billion, with estimates ranging from $8.94 billion to $9.86 billion. Zacks’ sales calculations 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 announced its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the previous year, the business earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis.
Hedge funds have recently added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new position in shares of National-Oilwell Varco in the first quarter valued at about $26,000. Investors Research Corp increased its position in shares of National-Oilwell Varco by 250.0% in the second quarter. Investors Research Corp now owns 1,400 shares of the oil and gas exploration company’s stock valued at $31,000 after acquiring an additional 1,000 shares during the period. Moody National Bank Trust Division increased its position in shares of National-Oilwell Varco by 125.0% in the first quarter. Moody National Bank Trust Division now owns 1,233 shares of the oil and gas exploration company’s stock valued at $33,000 after acquiring an additional 685 shares during the period. grace capital purchased a new position in shares of National-Oilwell Varco in the fourth quarter valued at about $46,000. Finally, Parallel Advisors LLC increased its position in shares of National-Oilwell Varco by 33.6% in the first quarter. Parallel Advisors LLC now owns 2,334 shares of the oil and gas exploration company’s stock valued at $62,000 after acquiring an additional 587 shares during the period. Hedge funds and other institutional investors own 92.83% of the company’s stock.
NYSE:NOV traded up $0.25 during trading hours on Friday, hitting $20.99. The stock had a trading volume of 4,246,231 shares, compared to its average volume of 3,735,704. The business’s 50 day moving average price is $21.30. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.30 and a quick ratio of 1.81. National-Oilwell Varco has a one year low of $19.57 and a one year high of $49.08. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of -262.38 and a beta of 1.28.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, June 13th. National-Oilwell Varco’s payout ratio is -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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