Stock Update (NYSE:NOV): National Oilwell Varco Announces Fourth Quarter and Full Year 2015 Earnings

[Business Wire] – National Oilwell Varco, Inc. today reported fourth quarter 2015 net income of $85 million, or $0.23 per fully diluted share, excluding other items, down from $0.61 in the third quarter of 2015 on a comparable basis. Read more on this. National Oilwell Varco, Inc. (NOV) , currently valued at $10.17B, started trading this morning at $28.13. Looking at today’s market, NOV one day range is $26.10 to $28.18 and has traded between $26.10 and $56.64 over the past year. NOV shares are currently priced at 10.43x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 15.97x earnings multiple. And for those looking to make a return holding the stock, the company pays shareholders $1.84 per share annually in dividends, yielding 4.76%. According to a consensus of 34 analysts, the earnings estimate of $0.44 per share would be $1.25 worse than the year-ago quarter and a $0.02 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $2.94, which would be a $3.13 setback when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.04 Billion. If reported, that would be a 46.76% decrease over the year-ago quarter. Recently, Oppenheimer Initiated NOV at Perform (Jan 12, 2016). Previously, KeyBanc Capital Mkts downgraded NOV from Overweight to Sector Weight. Given all the information above, we should disclose to readers that the average price target is $35.53, which is 26.31% above than it opened this morning. See more in (NYSE:NOV) Similar Articles: Company Update (NYSE:NOV): National Oilwell Varco Announces Third Quarter 2015 Earnings Stock Update (NYSE:NOV): National Oilwell Varco Announces Third Quarter Earnings Conference Call Market Update: National Oilwell Varco Inc (NYSE:NOV) – National Oilwell Varco Declares Regular Quarterly Dividend