Analysts expect National-Oilwell Varco, Inc. (NYSE:NOV) to announce sales of $2.10 billion for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for National-Oilwell Varco’s earnings. The lowest sales estimate is $2.06 billion and the highest is $2.12 billion. National-Oilwell Varco reported sales of $2.40 billion during the same quarter last year, which indicates a negative year over year growth rate of 12.5%. The company is scheduled to report its next earnings report after the market closes on Thursday, February 6th.

According to Zacks, analysts expect that National-Oilwell Varco will report full-year sales of $8.29 billion for the current fiscal year, with estimates ranging from $8.21 billion to $8.32 billion. For the next fiscal year, analysts anticipate that the business will post sales of $8.69 billion, with estimates ranging from $8.31 billion to $9.13 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow National-Oilwell Varco.

National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Monday, October 28th. The oil and gas exploration company reported ($0.64) EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.76). The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.17 billion. National-Oilwell Varco had a negative return on equity of 2.82% and a negative net margin of 66.29%. The business’s quarterly revenue was down 1.3% on a year-over-year basis.

A number of research firms have recently issued reports on NOV. Cowen increased their price objective on shares of National-Oilwell Varco from $24.00 to $26.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Wells Fargo & Co raised their target price on shares of National-Oilwell Varco from $22.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, September 12th. Jefferies Financial Group raised shares of National-Oilwell Varco from a “hold” rating to a “buy” rating and raised their price target for the stock from $23.00 to $25.00 in a report on Thursday, September 5th. Societe Generale raised shares of National-Oilwell Varco from a “neutral” rating to a “positive” rating and set a $25.00 target price for the company in a report on Monday, August 12th. Finally, Johnson Rice upgraded shares of National-Oilwell Varco from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.72.

Shares of NYSE NOV traded up $0.50 during midday trading on Wednesday, reaching $23.05. 7,715,636 shares of the company’s stock traded hands, compared to its average volume of 4,146,916. The company has a quick ratio of 1.75, a current ratio of 2.86 and a debt-to-equity ratio of 0.31. The stock’s 50 day simple moving average is $21.98 and its 200-day simple moving average is $21.58. National-Oilwell Varco has a one year low of $18.05 and a one year high of $33.37. The company has a market cap of $8.70 billion, a price-to-earnings ratio of -288.13, a P/E/G ratio of 8.51 and a beta of 1.33.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Thursday, December 5th. National-Oilwell Varco’s dividend payout ratio (DPR) is -250.00%.

In other news, VP Scott K. Duff sold 6,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $23.51, for a total transaction of $141,060.00. Following the completion of the transaction, the vice president now owns 42,721 shares of the company’s stock, valued at $1,004,370.71. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.92% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC bought a new stake in National-Oilwell Varco in the third quarter worth about $25,000. Usca Ria LLC bought a new stake in shares of National-Oilwell Varco in the 3rd quarter valued at approximately $25,000. TRUE Private Wealth Advisors bought a new stake in shares of National-Oilwell Varco in the 2nd quarter valued at approximately $26,000. FinTrust Capital Advisors LLC grew its stake in shares of National-Oilwell Varco by 156.2% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,227 shares of the oil and gas exploration company’s stock valued at $26,000 after buying an additional 748 shares in the last quarter. Finally, Cornerstone Advisors Inc. grew its stake in shares of National-Oilwell Varco by 285.0% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,390 shares of the oil and gas exploration company’s stock valued at $29,000 after buying an additional 1,029 shares in the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

About National-Oilwell Varco

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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Earnings History and Estimates for National-Oilwell Varco (NYSE:NOV)

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