Equities Analysts Offer Predictions for National-Oilwell Varco, Inc.’s Q2 2020 Earnings (NYSE:NOV)

National-Oilwell Varco, Inc. (NYSE:NOV) – Capital One Financial decreased their Q2 2020 earnings estimates for shares of National-Oilwell Varco in a research report issued to clients and investors on Thursday, June 25th. Capital One Financial analyst L. Lemoine now expects that the oil and gas exploration company will earn ($0.10) per share for the quarter, down from their prior forecast of ($0.06). Capital One Financial has a “Overweight” rating on the stock. Capital One Financial also issued estimates for National-Oilwell Varco’s Q3 2020 earnings at ($0.09) EPS, Q4 2020 earnings at ($0.08) EPS, FY2020 earnings at ($0.21) EPS and FY2021 earnings at ($0.04) EPS.

National-Oilwell Varco (NYSE:NOV) last posted its quarterly earnings results on Monday, April 27th. The oil and gas exploration company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.10 by $0.04. National-Oilwell Varco had a negative net margin of 95.76% and a negative return on equity of 1.94%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion.

Other equities research analysts have also issued reports about the stock. Stephens lowered shares of National-Oilwell Varco to a “hold” rating and set a $9.00 price target on the stock. in a report on Friday, March 20th. Credit Suisse Group raised shares of National-Oilwell Varco from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $25.00 to $13.00 in a report on Friday, March 20th. R. F. Lafferty lowered their price target on shares of National-Oilwell Varco from $27.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Barclays lowered shares of National-Oilwell Varco from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $14.00 to $8.00 in a report on Thursday, May 14th. They noted that the move was a valuation call. Finally, Citigroup lowered shares of National-Oilwell Varco from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research note on Monday, March 9th. Twelve analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. National-Oilwell Varco presently has a consensus rating of “Buy” and an average target price of $19.37.

NYSE:NOV opened at $12.15 on Monday. National-Oilwell Varco has a one year low of $8.00 and a one year high of $25.81. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.73. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of -0.58 and a beta of 1.80. The firm’s fifty day moving average is $12.74 and its two-hundred day moving average is $16.68.

Institutional investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd purchased a new position in National-Oilwell Varco in the 4th quarter valued at about $30,000. Acadian Asset Management LLC purchased a new position in National-Oilwell Varco in the 4th quarter valued at about $35,000. Sunbelt Securities Inc. purchased a new position in National-Oilwell Varco in the 4th quarter valued at about $9,781,000. Archer Investment Corp acquired a new stake in National-Oilwell Varco in the 4th quarter valued at about $46,000. Finally, Americana Partners LLC acquired a new stake in National-Oilwell Varco in the 4th quarter valued at about $50,000. 95.92% of the stock is currently owned by hedge funds and other institutional investors.

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

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