NOV Inc. (NYSE:NOV) Expected to Post Earnings of -$0.08 Per Share

Analysts expect NOV Inc. (NYSE:NOV) to post ($0.08) earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have issued estimates for NOV’s earnings. The lowest EPS estimate is ($0.12) and the highest is ($0.07). NOV posted earnings per share of ($0.01) during the same quarter last year, which suggests a negative year over year growth rate of 700%. The business is expected to report its next earnings results after the market closes on Tuesday, October 26th.

On average, analysts expect that NOV will report full-year earnings of ($0.50) per share for the current fiscal year, with EPS estimates ranging from ($0.60) to ($0.31). For the next fiscal year, analysts forecast that the company will report earnings of $0.23 per share, with EPS estimates ranging from ($0.03) to $0.46. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for NOV.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, July 27th. The oil and gas exploration company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.09. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.37 billion. NOV had a negative net margin of 10.10% and a negative return on equity of 5.46%.

NOV has been the topic of several recent analyst reports. Bank of America raised shares of NOV from a “neutral” rating to a “buy” rating in a research note on Friday, July 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $15.00 target price on shares of NOV in a report on Thursday, September 9th. COKER & PALMER upgraded shares of NOV from a “sector underperform” rating to a “sector perform” rating in a report on Monday, August 30th. Atb Cap Markets upgraded shares of NOV from a “sector perform” rating to an “outperform” rating in a report on Wednesday, July 28th. Finally, BMO Capital Markets upgraded shares of NOV from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $14.00 to $15.00 in a report on Monday, July 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, NOV has an average rating of “Buy” and a consensus target price of $16.69.

NOV stock traded up $0.04 during trading on Tuesday, hitting $13.53. The company had a trading volume of 7,238,449 shares, compared to its average volume of 4,783,707. The firm has a market capitalization of $5.29 billion, a P/E ratio of -9.60 and a beta of 2.31. NOV has a 52-week low of $7.70 and a 52-week high of $18.02. The company has a 50 day simple moving average of $13.46 and a 200-day simple moving average of $14.75. The company has a quick ratio of 1.98, a current ratio of 2.71 and a debt-to-equity ratio of 0.33.

Hedge funds have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. boosted its stake in NOV by 370.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,095 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 1,650 shares in the last quarter. Advisory Services Network LLC acquired a new stake in NOV in the 2nd quarter worth approximately $40,000. Quadrant Capital Group LLC acquired a new stake in NOV in the 1st quarter worth approximately $36,000. Rockefeller Capital Management L.P. boosted its stake in NOV by 229.1% in the 1st quarter. Rockefeller Capital Management L.P. now owns 3,159 shares of the oil and gas exploration company’s stock worth $43,000 after purchasing an additional 2,199 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in NOV in the 1st quarter worth approximately $49,000. Institutional investors own 92.86% of the company’s stock.

NOV Company Profile

NOV, Inc provides equipment and technology to the upstream oil and gas industry. It operates through the following segments: Rig Technologies, Wellbore Technologies, and Completion and Production Solutions. The Rig Technologies segment monitors its capital equipment backlog to plan its business. The Wellbore Technologies segment designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling operations and offers services that optimize their performance.

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Earnings History and Estimates for NOV (NYSE:NOV)

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