NOV (NOV) to Release Earnings on Thursday

NOV (NYSE:NOV) will be issuing its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.27 per share for the quarter. NOV has set its FY 2024 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

NOV (NYSE:NOV) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $1.10. NOV had a return on equity of 10.79% and a net margin of 11.57%. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the company posted $0.26 EPS. The company’s revenue for the quarter was up 13.0% 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 Price Performance

Shares of NOV stock opened at $18.58 on Tuesday. NOV has a 52-week low of $14.05 and a 52-week high of $21.91. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 7.40, a price-to-earnings-growth ratio of 0.81 and a beta of 1.74. The company has a fifty day moving average of $18.47 and a 200-day moving average of $19.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.51 and a current ratio of 2.40.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.08%. NOV’s dividend payout ratio (DPR) is 7.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NOV. TD Cowen cut their price objective on shares of NOV from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price target on shares of NOV in a research report on Tuesday, February 6th. Raymond James dropped their price target on shares of NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Susquehanna reissued a “positive” rating and set a $26.00 price target on shares of NOV in a research report on Monday, April 8th. Finally, Piper Sandler dropped their price target on shares of NOV from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $24.36.

Insider Transactions at NOV

In related news, CAO Christy Lynn Novak sold 3,500 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total value of $61,005.00. Following the completion of the transaction, the chief accounting officer now directly owns 114,212 shares in the company, valued at approximately $1,990,715.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.85% of the company’s stock.

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.