The mean price target for the shares of National-Oilwell Varco, Inc. (NYSE:NOV)is at $30.83 while the highest price target suggested by the analysts is $52.00 and low price target is $19.00. The mean price target is calculated keeping in view the consensus of 30 brokerage firms.
The company’s mean estimate for sales for the current quarter ending Jun 16 is 1.79B by 26 analysts. The means estimate of sales for the year ending Dec 16 is 7.45B by 32 analysts.
The average estimate of EPS for the current fiscal quarter for National-Oilwell Varco, Inc. (NYSE:NOV)stands at $-0.32 while the EPS for the current year is fixed at $-0.95 by 32.00 analysts
The next one year’s EPS estimate is set at -0.40 by 38.00 analysts while a year ago the analysts suggested the company’s EPS at $-0.95. The analysts also projected the company’s long-term growth at 9.07% for the upcoming five years
In its latest quarter ended on 31 Mar 2016 , National-Oilwell Varco, Inc. (NYSE:NOV)reported earnings of $-0.06. The posted earnings topped the analyst’s consensus by $0.04 with the surprise factor of 40.00%. In the matter of earnings surprises, the term ‘Cockroach Effect’ is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
National-Oilwell Varco, Inc. (NYSE:NOV) traded down -1.73% during trading on Friday, hitting $36.60 . The stock had a trading volume of 4.2 M shares. The firm has a 50 day moving average of $32.56 and a 200-day moving average of $31.79. The stock has a market cap of $13.70B. On Jun 24, 2015 the shares registered one year high at $49.84 and the one year low was seen on Feb 11, 2016.
On June 1, 2016 National-Oilwell Varco, Inc. (NYSE:NOV) announced that it has entered into a definitive agreement to acquire the completion tools business of Trican Well Service Ltd. (TCW.TO). The business designs and sells a range of innovative and patented downhole tools for multi-stage fracturing and multi-zone completions in North America and select international markets.
Clay Williams, NOV’s Chairman, President and Chief Executive Officer, commented, “This transaction represents an exciting step for NOV in expanding the breadth of our completion and production related product offerings. The transaction allows NOV to leverage our best-in-class manufacturing and global supply chain to expand sales into new markets and meet our customers’ demands for cost-effective, innovative and high quality completion tools.”
“The technologies acquired along with the talented team, which will continue to develop additional downhole completion solutions as part of the NOV family, make this transaction consistent with our strategy of investing in solutions which assist our customers in lowering their cost of supply.”
Closing of the transaction is expected on or around June 30, 2016 and is subject to customary regulatory approvals.
National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, and the provision of oilfield services to the upstream oil and gas industry.
Statements made in this press release that are forward-looking in nature are intended to be “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risks and uncertainties. These statements may differ materially from the actual future events or results. Readers are referred to documents filed by National Oilwell Varco with the Securities and Exchange Commission, including the Annual Report on Form 10-K, which identify significant risk factors which could cause actual results to differ from those contained in the forward-looking statements.
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