Peeling Back The Layers: Exploring NOV Through Analyst Insights

6 analysts have expressed a variety of opinions on NOV NOV over the past quarter, offering a diverse set of opinions from bullish to bearish.

The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.

Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $22.83, a high estimate of $28.00, and a low estimate of $20.00. This current average represents a 1.47% decrease from the previous average price target of $23.17.

Understanding Analyst Ratings: A Comprehensive Breakdown

A clear picture of NOV's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.

Key Insights:

• Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to NOV. This information provides a snapshot of how analysts perceive the current state of the company.
• Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of NOV compared to the broader market.
• Price Targets: Analysts navigate through adjustments in price targets, providing estimates for NOV's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.

For valuable insights into NOV's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.

Stay up to date on NOV analyst ratings.

All You Need to Know About NOV

NOV (formerly National Oilwell Varco) is a leading supplier of oil and gas drilling rig equipment and products, such as downhole tools, drill pipe, and well casing. The company operates on a global scale, with international markets contributing nearly two thirds of its annual revenue.

A Deep Dive into NOV's Financials

Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.

Revenue Growth: NOV displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 5.88%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Energy sector.

Net Margin: NOV's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 10.2%, the company showcases strong profitability and effective cost management.

Return on Equity (ROE): NOV's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 3.58%, the company may encounter challenges in delivering satisfactory returns for shareholders.

Return on Assets (ROA): NOV's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 2.0%, the company showcases efficient use of assets and strong financial health.

Debt Management: With a below-average debt-to-equity ratio of 0.38, NOV adopts a prudent financial strategy, indicating a balanced approach to debt management.

Analyst Ratings: What Are They?

Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.

Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.