NOV Inc (NYSE: NOV) has reported earnings for its second fiscal quarter (ending June 30) of $0.57 versus $0.39 for the same period a year ago — an increase of 46%. This result exceeded the consensus estimate of $0.35 by $0.22. For the latest four quarters through June 30, E.P.S. were $2.69 versus $1.07 for the same period a year ago — an increase of 151%.
Recent Price Action
On 7/25/24, NOV Inc (NYSE: NOV) stock enjoyed a large increase of 2.3%, closing at $18.67. Moreover, this advance was accompanied by exceptionally high trading volume at 248% of normal. The stock has declined -4.1% during the last week and has been weak relative to the market over the last nine months.
Current PriceTarget Research Rating
NOV’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
NOV has a current Value Trend Rating of C (Low Neutral). The Value Trend Rating reflects contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. NOV has a slightly positive Appreciation Score of 62 but a poor Power Rating of 27, resulting in the Low Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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