Analysts Set Expectations for National-Oilwell Varco, Inc.’s FY2020 Earnings (NOV)

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National-Oilwell Varco, Inc. (NYSE:NOV) – Research analysts at Gabelli dropped their FY2020 EPS estimates for shares of National-Oilwell Varco in a research report issued on Monday, February 11th. Gabelli analyst S. Wong now expects that the oil and gas exploration company will earn $1.15 per share for the year, down from their previous forecast of $1.55. Gabelli has a “Buy” rating on the stock. Gabelli also issued estimates for National-Oilwell Varco’s FY2021 earnings at $2.10 EPS and FY2022 earnings at $2.75 EPS.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Wednesday, February 6th. The oil and gas exploration company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.05). National-Oilwell Varco had a negative return on equity of 0.22% and a negative net margin of 0.37%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the firm earned ($0.04) EPS. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year.

NOV has been the topic of a number of other research reports. Jefferies Financial Group upped their price target on shares of National-Oilwell Varco from $42.00 to $46.00 and gave the company a “hold” rating in a research report on Thursday, October 18th. ValuEngine cut shares of National-Oilwell Varco from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. BMO Capital Markets set a $38.00 price target on shares of National-Oilwell Varco and gave the company a “sell” rating in a research report on Monday, November 5th. Tudor Pickering raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating in a research report on Monday, November 5th. Finally, Cowen cut their price target on shares of National-Oilwell Varco from $45.00 to $42.00 and set a “market perform” rating on the stock in a research report on Monday, October 29th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $39.09.

Shares of National-Oilwell Varco stock opened at $29.51 on Wednesday. The company has a current ratio of 3.11, a quick ratio of 1.83 and a debt-to-equity ratio of 0.19. National-Oilwell Varco has a twelve month low of $24.27 and a twelve month high of $49.08. The firm has a market capitalization of $11.04 billion, a P/E ratio of -368.88, a price-to-earnings-growth ratio of 11.73 and a beta of 1.25.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of National-Oilwell Varco by 1.3% during the third quarter. Vanguard Group Inc. now owns 40,535,826 shares of the oil and gas exploration company’s stock valued at $1,746,283,000 after purchasing an additional 506,418 shares during the period. Vanguard Group Inc raised its holdings in shares of National-Oilwell Varco by 1.3% during the third quarter. Vanguard Group Inc now owns 40,535,826 shares of the oil and gas exploration company’s stock valued at $1,746,283,000 after purchasing an additional 506,418 shares during the period. BlackRock Inc. raised its holdings in shares of National-Oilwell Varco by 4.3% during the fourth quarter. BlackRock Inc. now owns 26,005,356 shares of the oil and gas exploration company’s stock valued at $668,337,000 after purchasing an additional 1,072,861 shares during the period. Pzena Investment Management LLC raised its holdings in shares of National-Oilwell Varco by 37.9% during the fourth quarter. Pzena Investment Management LLC now owns 12,651,572 shares of the oil and gas exploration company’s stock valued at $325,145,000 after purchasing an additional 3,475,751 shares during the period. Finally, Parnassus Investments CA raised its holdings in shares of National-Oilwell Varco by 6.9% during the fourth quarter. Parnassus Investments CA now owns 11,034,343 shares of the oil and gas exploration company’s stock valued at $283,583,000 after purchasing an additional 716,126 shares during the period. Hedge funds and other institutional investors own 92.16% of the company’s stock.

National-Oilwell Varco declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, November 6th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the oil and gas exploration company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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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