National Oilwell Varco, Inc. (NOV - Free Report) is engaged in the manufacture of oil and gas drilling-related equipments. This company could be an interesting play for investors because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NOV’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that National Oilwell Varco could be a solid choice for investors.
Current Quarter Estimates for NOV
In the past 30 days, eight estimates have gone higher for National Oilwell Varco while two have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 23 cents a share 30 days ago, to a loss of 17 cents today, a move of 34.8%.
Current Year Estimates for NOV
Meanwhile, National Oilwell Varco’ current year figures are also looking quite promising, with 11 estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 48 cents per share 30 days ago to a loss of 33 cents per share today, an increase of 31.3%.
National Oilwell Varco, Inc. Price and Consensus
Bottom Line
The stock has also started to move higher lately, adding 6.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
National Oilwell Varco, Inc. (NOV - Free Report) is engaged in the manufacture of oil and gas drilling-related equipments. This company could be an interesting play for investors because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NOV’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that National Oilwell Varco could be a solid choice for investors.
Current Quarter Estimates for NOV
In the past 30 days, eight estimates have gone higher for National Oilwell Varco while two have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 23 cents a share 30 days ago, to a loss of 17 cents today, a move of 34.8%.
Current Year Estimates for NOV
Meanwhile, National Oilwell Varco’ current year figures are also looking quite promising, with 11 estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 48 cents per share 30 days ago to a loss of 33 cents per share today, an increase of 31.3%.
National Oilwell Varco, Inc. Price and Consensus
Bottom Line
The stock has also started to move higher lately, adding 6.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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