Equities Analysts Issue Forecasts for National-Oilwell Varco, Inc.’s FY2017 Earnings (NOV)

National-Oilwell Varco, Inc. (NYSE:NOV) – Equities researchers at Jefferies Group increased their FY2017 EPS estimates for National-Oilwell Varco in a research report issued on Monday. Jefferies Group analyst B. Handler now forecasts that the oil and gas exploration company will earn ($0.42) per share for the year, up from their previous forecast of ($0.43). Jefferies Group has a “Hold” rating and a $35.00 price target 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.

NOV has been the subject of several other reports. R. F. Lafferty cut their price target on shares of National-Oilwell Varco from $33.00 to $31.00 and set a “hold” rating for the company in a report on Monday, November 6th. FBR & Co reissued a “buy” rating on shares of National-Oilwell Varco in a report on Monday, October 16th. Scotiabank set a $37.00 price target on shares of National-Oilwell Varco and gave the company a “hold” rating in a report on Friday, October 27th. ValuEngine downgraded shares of National-Oilwell Varco from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Finally, Citigroup cut their price target on shares of National-Oilwell Varco from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, October 31st. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $38.22.

National-Oilwell Varco (NYSE:NOV) opened at $34.05 on Wednesday. National-Oilwell Varco has a 1-year low of $29.90 and a 1-year high of $41.90. The stock has a market cap of $12,864.09, a PE ratio of -54.05, a P/E/G ratio of 16.53 and a beta of 0.89. The company has a current ratio of 2.75, a quick ratio of 1.62 and a debt-to-equity ratio of 0.19.

National-Oilwell Varco (NYSE:NOV) last announced 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 consensus estimate of ($0.04). National-Oilwell Varco had a negative net margin of 3.24% and a negative return on equity of 1.10%. The firm had revenue of $1.97 billion during the quarter. During the same period in the prior year, the business earned ($0.15) earnings per share.

Hedge funds and other institutional investors have recently made changes to their positions in the business. IHT Wealth Management LLC raised its stake in shares of National-Oilwell Varco by 1,923.1% in the second quarter. IHT Wealth Management LLC now owns 526 shares of the oil and gas exploration company’s stock worth $112,000 after acquiring an additional 500 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in shares of National-Oilwell Varco during the 4th quarter worth approximately $141,000. Global Trust Asset Management LLC acquired a new stake in shares of National-Oilwell Varco during the 4th quarter worth approximately $160,000. Tiedemann Wealth Management LLC grew its position in shares of National-Oilwell Varco by 77.8% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 11,668 shares of the oil and gas exploration company’s stock worth $194,000 after buying an additional 5,107 shares during the period. Finally, IBM Retirement Fund acquired a new stake in shares of National-Oilwell Varco during the 3rd quarter worth approximately $200,000. 91.83% of the stock is owned by institutional investors.

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About National-Oilwell Varco

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.

Earnings History and Estimates for National-Oilwell Varco (NYSE:NOV)

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