NOV (NOV) to Release Quarterly Earnings on Thursday

NOV (NYSE:NOV) will 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. Individual that are interested in registering for the company’s earnings 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.22. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.19 billion. NOV had a net margin of 11.88% and a return on equity of 10.97%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 earnings per share. On average, analysts expect NOV to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NOV Stock Performance

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

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.075 per share. 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 1.91%. NOV’s dividend payout ratio is 12.05%.

Analyst Ratings Changes

A number of brokerages recently weighed in on NOV. Piper Sandler dropped their target price on shares of NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Morgan Stanley dropped their target price on shares of NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Benchmark reissued a “hold” rating on shares of NOV in a research note on Friday, July 26th. Wells Fargo & Company cut shares of NOV from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $20.00 to $16.00 in a research note on Wednesday, September 25th. Finally, Barclays dropped their price objective on shares of NOV from $20.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NOV currently has a consensus rating of “Moderate Buy” and an average target price 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.