NOV (NOV) Set to Announce Earnings on Thursday

NOV (NYSE:NOV) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, October 24th. Analysts expect NOV to post earnings of $0.37 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

NOV (NYSE:NOV) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.35 by $0.22. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.19 billion. NOV had a net margin of 11.88% and a return on equity of 10.97%. NOV’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. On average, analysts expect NOV to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NOV Price Performance

Shares of NOV opened at $15.41 on Wednesday. The company has a 50 day moving average of $16.69 and a two-hundred day moving average of $17.96. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 6.19, a price-to-earnings-growth ratio of 0.47 and a beta of 1.67. The company has a quick ratio of 1.64, a current ratio of 2.61 and a debt-to-equity ratio of 0.27. NOV has a twelve month low of $15.27 and a twelve month high of $21.23.

NOV Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.95%. NOV’s payout ratio is 12.05%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NOV shares. Morgan Stanley lowered their price target on NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Stifel Nicolaus decreased their price target on NOV from $26.00 to $25.00 and set a “buy” rating for the company in a report on Friday, October 11th. Bank of America dropped their target price on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Piper Sandler decreased their target price on NOV from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Finally, Benchmark reiterated a “hold” rating on shares of NOV in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.57.

About NOV

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.