Inside National Oilwell Varco’s Upcoming Quarterly Earnings Release

S&P 500 (NYSE:SPY) component National Oilwell Varco, Inc. (NYSE:NOV) will unveil its latest earnings on Tuesday, October 25, 2011. National Oilwell Varco provides equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services.

National Oilwell Varco, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.17 per share, a rise of 20.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $1.06. Between one and three months ago, the average estimate moved up. It has been unchanged at $1.17 during the last month. Analysts are projecting profit to rise by 10.3% versus last year to $4.51.

Last quarter, the company came in at net income of $1.14 per share against a mean estimate of profit of $1.01 per share, beating estimates after missing them in the previous quarter. In the first quarter, it missed forecasts by one cent.

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Wall St. Revenue Expectations: On average, analysts predict $3.66 billion in revenue this quarter, a rise of 21.6% from the year ago quarter. Analysts are forecasting total revenue of $14.01 billion for the year, a rise of 15.2% from last year’s revenue of $12.16 billion.

Analyst Ratings: Analysts are bullish on this stock with 16 analysts rating it as a buy, none rating it as a sell and two rating it as a hold.

A Look Back: In the second quarter, profit rose 20% to $481 million ($1.13 a share) from $401 million (96 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 19.4% to $3.51 billion from $2.94 billion.

Key Stats:

Revenue has gone up for three straight quarters. It rose 3.8% in the first quarter from the year earlier and 1.2% in the fourth quarter of the last fiscal year.

The increase in profit in the second quarter came after net income fell in the previous quarter. In the first quarter, net income fell 3.6%.

Competitors to Watch: Baker Hughes Incorporated (NYSE:BHI), Tesco Corporation (NASDAQ:TESO), Cameron Intl. Corp. (NYSE:CAM), T-3 Energy Services, Inc. (NASDAQ:TTES), Oil States Intl., Inc. (NYSE:OIS), Flotek Industries, Inc. (NYSE:FTK), FMC Technologies, Inc. (NYSE:FTI), Lufkin Industries, Inc. (NASDAQ:LUFK), and Schlumberger Limited. (NYSE:SLB).

Stock Price Performance: During July 26, 2011 to October 19, 2011, the stock price had fallen $17.67 (-21.6%) from $81.82 to $64.15. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 7, 2011 when shares rose for nine-straight days, rising 15.5% (+$10.83) over that span. It saw one of its worst periods between July 28, 2011 and August 8, 2011 when shares fell for eight-straight days, falling 25.8% (-$20.95) over that span. Shares are down $2.79 (-4.2%) year to date.

(Source: Xignite Financials)

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