In the last trading session, 4.65 million shares of the NOV Inc. (NYSE:NOV) were traded, and its beta was 1.90. Most recently the company’s share price was $15.52, and it changed around $0.23 or 1.50% from the last close, which brings the market valuation of the company to $6.14B. NOV currently trades at a discount to its 52-week high of $24.83, offering almost -59.99% off that amount. The share price’s 52-week low was $13.98, which indicates that the current value has risen by an impressive 9.92% since then. We note from NOV Inc.’s average daily trading volume that its 10-day average is 4.49 million shares, with the 3-month average coming to 4.86 million.
NOV Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.20. If we narrow it down even further, the data shows that 1 out of 25 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 8 recommended NOV as a Hold, whereas 14 deemed it a Buy, and 0 rated it as Underweight. NOV Inc. is expected to report earnings per share of $0.3 for the current quarter.
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NOV Inc. (NYSE:NOV) trade information
Instantly NOV has showed a green trend with a performance of 1.50% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 15.66 on Tuesday, 05/23/23 increased the stock’s daily price by 0.89%. The company’s shares are currently down -25.71% year-to-date, but still up 6.52% over the last five days. On the other hand, NOV Inc. (NYSE:NOV) is -17.45% up in the 30-day period. We can see from the shorts that 12.2 million shares have been sold at a short interest cover period of 2.7 day(s).
The consensus price target as assigned by Wall Street analysts is $24.48, which translates to bulls needing to increase their stock price by 36.6% from its current value. Analyst projections state that NOV is forecast to be at a low of $17.00 and a high of $30.00. In order for the stock price to hit the forecast high, the stock would need to plunge -93.3% from its current level, while the stock would need to crash -9.54% from its current level to reach the projected low.
NOV Inc. (NOV) estimates and forecasts
NOV Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -31.48 percent over the past six months and at a 238.46% annual growth rate that is well above the industry average of 17.90%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 66.70% in revenue this quarter, and will report an increase of 325.00% in the next quarter. The year-over-year growth rate is expected to be 16.60%, up from the previous year.
Consensus estimates provided by 17 financial analysts predict the company will bring in an average of $2.08 billion in revenue for the current quarter. 17 analysts expect NOV Inc. to make $2.16 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $1.73 billion and $1.89 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 20.20%. Forecasts for the next quarter put sales growth at 14.30%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 18.20%. NOV Inc. earnings are expected to increase by 160.70% in 2023, but the outlook is positive 36.00% per year for the next five years.
NOV Inc.’s next quarterly earnings report is expected to be released around July 25 and July 31. The annual dividend yield of the stock is 1.29 percent and its annual dividend per share was 0.20. It is important to note, however, that the 1.29% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
NOV Inc. (NYSE:NOV)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.66% of NOV Inc. shares, and 94.48% of them are in the hands of institutional investors. The stock currently has a share float of 95.11%. NOV Inc. stock is held by 532 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 9.89% of the shares, which is about 38.93 million shares worth $720.5 million.
Blackrock Inc., with 9.59% or 37.75 million shares worth $698.72 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
First Eagle Global Fund and iShares Core S&P Midcap ETF were the top two Mutual Funds as of Jan 30, 2023. The former held 26.91 million shares worth $657.56 million, making up 6.83% of all outstanding shares. On the other hand, iShares Core S&P Midcap ETF held roughly 12.23 million shares worth around $267.65 million, which represents about 3.11% of the total shares outstanding.