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The headline numbers for Nov Inc. (NOV) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Nov Inc. (NOV) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.39 per share a year ago.
NOV is anticipated to have generated higher revenues from the year-ago period's level. However, it is expected to have recorded a lower bottom line due to rising costs.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
NOV Inc. is still suffering from the lingering effects of the 2020 oil/gas bust, with investors shunning the stock, and operating results only slowly improving. Using financial ratio analysis, shares are trading at a 30% to 40% discount to long-term valuation averages. One surprise for Wall Street investors this year or next may be a large spike in energy prices, as relative pricing remains depressed.
HOUSTON--(BUSINESS WIRE)--NOV Announces Q2 2024 Earnings Conference Call.
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HOUSTON--(BUSINESS WIRE)--NOV Announces 50 Percent Increase in Regular Quarterly Dividend.