Monday, September 27, 2021

NOV Inc. [NOV] Earnings Preview: Things to Think About

Earnings from NOV Inc. [NOV] are scheduled on April 27, 2021, after the market closes. It is expected that the company will report weak earnings for the quarter ending Mar 2021.


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NOV Stock Earnings Outlook For The Current Quarter

The consensus estimates for the quarter suggest that the company would earn -$0.22 per share on revenue of $1.27B. Taking a look at the future, the company is projected to report revenue of $1.35B at an earnings per share of -$0.14 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 14.90% in revenue and 125.50% in earnings per share for the company.

NOV Stock Earnings Forecast For The Current Year


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For the full financial year, NOV Inc. [NYSE:NOV] is forecasted to generate revenue of $5.53B. The figure is about $-560.0 million below what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be -$0.47 in 2021, which is -$0.16 lower than the figure in FY20. Based on current estimates, earnings are expected to grow -51.60% this year, 125.50% next year, and 18.90% annually over the next five years. With regard to sales, forecasts suggest a decline of -9.20% in current fiscal year and 14.90% over following year.

NOV Stock Price Performance

At a recent check today, NOV Inc. [NYSE:NOV] finished down -0.37% at $13.43. The stock’s day high price was $13.65, and its lowest was $13.30. Its price rose 1.20% in the last five days. Since the beginning of the year, NOV Inc.’s shares are down nearly -1.82%. However, the share price is -23.26% below its one year high. The top price reached by the shares of the company was $17.50 on 03/08/21, while the 52-week low came on 01/28/21, when the shares were $12.11. In the past year, shares of the company have risen 12.15%. At 50 days, the moving average achieved is $14.47 while at 200 days, the moving average is $12.58. There were 1.49 million shares traded in the last session, down from 2.95 million in the previous session.

NOV Inc. [NYSE:NOV] Stock Valuation Metrics

Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 0.85 PS value ratio is reported for the last one year of reported earnings. This is below the average return 1.13 for the industry, which means NOV offers an attractive investment opportunity than its competitors do.

NOV Share Price Support And Resistance Levels

Based on the daily chart, the immediate backing lies around the 13.43 level, and the violation of this level will cause a further drop to 13.30 level. At the upper end, 14.00 remains a key resistance. As the stock increases, it may find resistance at 13.83. In the 14-day chart, the Relative Strength Index standing at 46.75 suggests a technical neutral stance while the MACD standing at 0.14 indicates price will decrease in the next trading period. Stochastic %K at 55.71% suggests holding the stock while Percent R indicator at 43.92% suggests low price movement.

How much is the short interest in NOV Inc.?

There have been a drop in short interest in the NOV Inc. Financial stock, with short interest down by -1.38 million shares to 17.63 million shares on Mar 14, 2021. According to data provided by Yahoo Finance, the short interest on Apr 14, 2021 stood at 16.25 million shares. This 7.83% increase suggests some bearish sentiment was experienced by the stock. Shorted shares accounted for just 5.33% of the overall float in the stock, while the stock’s days to cover moved to 3.51.

How do analysts view NOV Inc.?

In regard to the share price forecast for NOV Inc. stock, the analysts, as surveyed by FactSet, forecast the price to reach $15.00 in the next twelve months, representing almost an 10.47% growth from its recent price of $13.43. Among NOV Inc. stock projections, $22.00 is the highest analyst target for the stock, while $11.00 is the lowest. Despite this, 25 analysts who share their consensus rating for NOV in 2021 agree that the stock is an Overweight. The latest rating change took place on 1/21/21, when Wells Fargo Ratings upgraded the stock from “Equal-Weight” to “Overweight.”

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