NOV (NOV) to Release Quarterly Earnings on Thursday

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

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

NOV Trading Up 0.0 %

Shares of NOV opened at $15.69 on Thursday. NOV has a 1-year low of $15.47 and a 1-year high of $21.53. The company has a 50-day moving average of $16.83 and a 200 day moving average of $18.07. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 6.30, a PEG ratio of 0.47 and a beta of 1.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.61 and a quick ratio of 1.64.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.30 annualized dividend and a dividend yield of 1.91%. NOV’s dividend payout ratio is currently 12.05%.

Analyst Ratings Changes

Several research firms have recently commented on NOV. Stifel Nicolaus reduced their price target on shares of NOV from $26.00 to $25.00 and set a “buy” rating for the company in a report on Friday, October 11th. Benchmark restated a “hold” rating on shares of NOV in a report on Friday, July 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 price target on shares of NOV in a report on Monday, July 29th. Morgan Stanley reduced their price target on shares of NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, TD Cowen boosted their price target on shares of NOV from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NOV has an average rating of “Moderate Buy” and an average price target of $22.57.

NOV Company Profile

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.