S&P 500   4,455.48
DOW   34,798.00
QQQ   373.33
S&P 500   4,455.48
DOW   34,798.00
QQQ   373.33
S&P 500   4,455.48
DOW   34,798.00
QQQ   373.33
S&P 500   4,455.48
DOW   34,798.00
QQQ   373.33

NOV Inc. (NYSE:NOV) Expected to Announce Quarterly Sales of $1.42 Billion

Last updated on Thursday, September 16, 2021 | 2021 MarketBeat

Analysts expect NOV Inc. (NYSE:NOV) to report sales of $1.42 billion for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for NOV's earnings, with estimates ranging from $1.42 billion to $1.43 billion. NOV reported sales of $1.38 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The company is expected to report its next earnings report after the market closes on Tuesday, October 26th.

According to Zacks, analysts expect that NOV will report full-year sales of $5.56 billion for the current year, with estimates ranging from $5.52 billion to $5.62 billion. For the next financial year, analysts expect that the firm will report sales of $6.57 billion, with estimates ranging from $5.88 billion to $6.86 billion. Zacks' sales averages are a mean average based on a survey of sell-side research analysts that follow NOV.

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

Several research analysts have recently weighed in on the company. Seaport Global Securities assumed coverage on NOV in a research note on Thursday, July 15th. They set a "buy" rating and a $19.00 target price for the company. COKER & PALMER raised NOV from a "sector underperform" rating to a "sector perform" rating in a research note on Monday, August 30th. Royal Bank of Canada reiterated a "sector perform" rating and set a $15.00 price target on shares of NOV in a research report on Thursday, September 9th. Bank of America upgraded NOV from a "neutral" rating to a "buy" rating in a research report on Friday, July 16th. Finally, Seaport Res Ptn reiterated a "buy" rating on shares of NOV in a research report on Thursday, July 15th. One investment 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.com, the stock has a consensus rating of "Buy" and an average target price of $16.69.

Shares of NYSE:NOV opened at $13.92 on Thursday. The company has a current ratio of 2.71, a quick ratio of 1.98 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $5.44 billion, a PE ratio of -9.87 and a beta of 2.31. The business has a 50 day moving average of $13.45 and a two-hundred day moving average of $14.74. NOV has a 12-month low of $7.70 and a 12-month high of $18.02.

A number of hedge funds have recently bought and sold shares of the business. Parametric Portfolio Associates LLC raised its position in NOV by 14.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,443,466 shares of the oil and gas exploration company's stock valued at $22,114,000 after purchasing an additional 187,252 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of NOV in the 2nd quarter valued at about $2,264,000. Marshall Wace LLP increased its holdings in shares of NOV by 137.4% in the 2nd quarter. Marshall Wace LLP now owns 67,295 shares of the oil and gas exploration company's stock valued at $1,031,000 after acquiring an additional 38,951 shares during the last quarter. Mariner LLC increased its holdings in shares of NOV by 11.6% in the 2nd quarter. Mariner LLC now owns 22,106 shares of the oil and gas exploration company's stock valued at $339,000 after acquiring an additional 2,293 shares during the last quarter. Finally, Morgan Stanley grew its stake in NOV by 207.8% during the 2nd quarter. Morgan Stanley now owns 1,842,917 shares of the oil and gas exploration company's stock worth $28,233,000 after buying an additional 1,244,148 shares during the last quarter. 92.86% of the stock is currently owned by institutional investors.

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.

Read More: How Important is Technical Analysis of Stocks

Get a free copy of the Zacks research report on NOV (NOV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for NOV (NYSE:NOV)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in NOV right now?

Before you consider NOV, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NOV wasn't on the list.

While NOV currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here



Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.