Company Update: National Oilwell Varco Inc (NYSE:NOV) – NOV Announces Definitive Agreement to Acquire the Completion Tools Business of Trican Well Service Ltd.
June 01, 2016 at 15:41 PM EDT
[Business Wire] – National Oilwell Varco, Inc. announced today that it has entered into a definitive agreement to acquire the completion tools business of Trican Well Service Ltd. . Read more on this. National Oilwell Varco, Inc. (NOV) , with a current market cap of $12.10B, opened at $32.33. During today’s session, NOV traded between $31.52 to $32.58 with the price of the stock fluctuating between $25.74 to $50.70 over the last 52 weeks. Priced at -34.70x this year’s forecasted earnings, NOV shares are relatively inexpensive compared to the industry’s -9.89x forward p/e ratio. And for passive income investors, the company pays shareholders $1.84 per share annually in dividends, yielding 4.76%. In a review of the consensus earnings estimate this quarter, 32 sell-side analysts are looking at $-0.31 per share, which would be $0.77 better than the year-ago quarter and a $0.00 sequential increase. The full-year EPS estimate is $-0.94 which would be a $3.74 worse than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.79 Billion. If reported, that would be a 54.22% decrease over the year-ago quarter. Recently, Societe Generale downgraded NOV from Hold to Sell (May 4, 2016). Previously, Morgan Stanley upgraded NOV from Underweight to Overweight. When considering if perhaps the stock is under or overvalued, the average price target is $30.80, which is 4.73% below where the stock opened this morning. See more in (NYSE:NOV) Similar Articles: Stock Update: National Oilwell Varco Inc (NYSE:NOV) – National Oilwell Varco Announces Second Quarter Earnings Conference Call Market Update: National Oilwell Varco Inc (NYSE:NOV) – National Oilwell Varco Reports First Quarter 2016 Results Stock Update (NYSE:NOV): National Oilwell Varco Announces Fourth Quarter and Full Year 2015 Earnings