Brokers Offer Predictions for National-Oilwell Varco, Inc.’s FY2017 Earnings (NOV)
National-Oilwell Varco, Inc. (NYSE:NOV) – Jefferies Group upped their FY2017 earnings per share (EPS) estimates for shares of National-Oilwell Varco in a research note issued on Monday. Jefferies Group analyst B. Handler now expects that the oil and gas exploration company will post earnings per share of ($0.42) for the year, up from their previous forecast of ($0.43). Jefferies Group currently has a “Hold” rating and a $35.00 target price on the stock. Jefferies Group also issued estimates for National-Oilwell Varco’s Q4 2017 earnings at ($0.04) EPS and Q1 2018 earnings at ($0.05) EPS.
National-Oilwell Varco (NYSE:NOV) last released its quarterly earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The company had revenue of $1.97 billion for the quarter. National-Oilwell Varco had a negative net margin of 3.24% and a negative return on equity of 1.10%. During the same period in the previous year, the company earned ($0.15) EPS.
Shares of National-Oilwell Varco (NYSE:NOV) opened at $32.64 on Wednesday. The stock has a market cap of $12,400.00, a price-to-earnings ratio of -51.81, a P/E/G ratio of 17.28 and a beta of 0.89. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.62 and a current ratio of 3.07. National-Oilwell Varco has a 12 month low of $29.90 and a 12 month high of $41.90.
A number of hedge funds have recently bought and sold shares of the stock. First Eagle Investment Management LLC increased its stake in National-Oilwell Varco by 2.1% in the 3rd quarter. First Eagle Investment Management LLC now owns 27,068,594 shares of the oil and gas exploration company’s stock worth $967,161,000 after buying an additional 563,589 shares during the period. Parnassus Investments CA increased its stake in National-Oilwell Varco by 10.1% in the 4th quarter. Parnassus Investments CA now owns 6,929,938 shares of the oil and gas exploration company’s stock worth $249,616,000 after buying an additional 637,925 shares during the period. American Century Companies Inc. increased its stake in National-Oilwell Varco by 4.2% in the 4th quarter. American Century Companies Inc. now owns 6,390,274 shares of the oil and gas exploration company’s stock worth $230,178,000 after buying an additional 255,563 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in National-Oilwell Varco in the 3rd quarter worth about $226,421,000. Finally, Wells Fargo & Company MN increased its stake in National-Oilwell Varco by 17.1% in the 3rd quarter. Wells Fargo & Company MN now owns 5,248,794 shares of the oil and gas exploration company’s stock worth $187,541,000 after buying an additional 765,634 shares during the period. 91.83% of the stock is currently owned by institutional investors.
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National-Oilwell Varco Company Profile
National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.
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