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.
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