NOV (NOV) to Release Earnings on Thursday

NOV (NYSE:NOV) is set to issue its quarterly earnings data after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $0.37 per share for the quarter. Investors interested in participating in the company’s 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 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.22. NOV had a net margin of 11.88% and a return on equity of 10.97%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, analysts expect NOV to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NOV Stock Up 0.3 %

NOV stock opened at $15.49 on Tuesday. The firm’s 50-day moving average is $16.73 and its two-hundred day moving average is $17.99. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 6.23, a price-to-earnings-growth ratio of 0.47 and a beta of 1.67. NOV has a 52 week low of $15.27 and a 52 week high of $21.23. The company has a current ratio of 2.61, a quick ratio of 1.64 and a debt-to-equity ratio of 0.27.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders 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 yield of 1.94%. NOV’s dividend payout ratio (DPR) is 12.05%.

Wall Street Analyst Weigh In

NOV has been the topic of a number of research analyst reports. Bank of America lowered their target price on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, October 14th. BMO Capital Markets lowered their price objective on shares of NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. Susquehanna cut their target price on shares of NOV from $26.00 to $22.00 and set a “positive” rating for the company in a research report on Friday, October 11th. Barclays reduced their price target on NOV from $20.00 to $17.00 and set an “underweight” rating for the company in a report on Wednesday, October 16th. Finally, Stifel Nicolaus lowered their target price on shares of NOV from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.