Griffin Securities Has Weak Estimate for NOV FY2025 Earnings

Key Points

• Griffin Securities has lowered its FY2025 earnings per share estimate for NOV Inc. from $1.45 to $1.05, down from the consensus estimate of $1.40 per share.
• NOV reported $0.29 earnings per share for the last quarter, which missed analysts' expectations by $0.01, alongside a 1.3% decline in revenue year-over-year.
• The consensus rating for NOV remains a "Hold" with a current average target price of $16.69.

NOV Inc. (NYSE:NOV - Free Report) - Research analysts at Griffin Securities reduced their FY2025 earnings per share estimates for shares of NOV in a report released on Tuesday, August 5th. Griffin Securities analyst K. Simpson now expects that the oil and gas exploration company will earn $1.05 per share for the year, down from their previous forecast of $1.45. The consensus estimate for NOV's current full-year earnings is $1.40 per share.

NOV (NYSE:NOV - Get Free Report) last announced its earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. NOV had a net margin of 5.36% and a return on equity of 7.25%. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 EPS.

A number of other analysts have also commented on the company. Piper Sandler decreased their price objective on NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Susquehanna set a $17.00 price objective on shares of NOV and gave the company a "positive" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada lowered their price objective on NOV from $19.00 to $18.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Stifel Nicolaus lowered their price target on NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Finally, Evercore ISI lowered their price objective on shares of NOV from $15.00 to $14.00 and set an "in-line" rating for the company in a report on Wednesday, July 30th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $16.69.

NOV Stock Performance

Shares of NOV remained flat at $11.90 on Friday. 2,657,003 shares of the company were exchanged, compared to its average volume of 4,180,959. The company has a quick ratio of 1.72, a current ratio of 2.58 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average of $13.02 and a two-hundred day moving average of $13.47. The firm has a market cap of $4.42 billion, a PE ratio of 9.75, a PEG ratio of 3.27 and a beta of 1.32. NOV has a 12 month low of $10.84 and a 12 month high of $18.40.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NOV. LPL Financial LLC boosted its holdings in NOV by 23.7% in the 4th quarter. LPL Financial LLC now owns 59,340 shares of the oil and gas exploration company's stock worth $866,000 after buying an additional 11,364 shares during the period. JPMorgan Chase & Co. raised its position in shares of NOV by 11.6% during the fourth quarter. JPMorgan Chase & Co. now owns 887,362 shares of the oil and gas exploration company's stock valued at $12,955,000 after buying an additional 92,006 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of NOV by 1.1% in the fourth quarter. Alliancebernstein L.P. now owns 622,982 shares of the oil and gas exploration company's stock worth $9,096,000 after buying an additional 6,828 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of NOV by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 6,697,650 shares of the oil and gas exploration company's stock worth $97,815,000 after acquiring an additional 302,009 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in NOV by 101.8% during the fourth quarter. Cerity Partners LLC now owns 129,610 shares of the oil and gas exploration company's stock valued at $1,906,000 after acquiring an additional 65,370 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

NOV Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, June 3rd were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a yield of 363.0%. NOV's dividend payout ratio is currently 24.59%.

NOV Company Profile

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.