
NOV (NOV) Stock Forecast & Price Target
NOV (NOV) Analyst Ratings
Bulls say
NOV's financial outlook appears positive due to strong demand for offshore production equipment, which has led to significant revenue growth in subsea flexible pipes, both year-over-year and sequentially. The company boasts a robust energy equipment backlog of $4,560 million, exceeding expectations and indicating rising demand and potential for improved margins as industry activity increases. Additionally, NOV has successfully enhanced its EBITDA margins to 14.4%, attributing this to effective cost controls and operational efficiencies, positioning the company well for future profitability amid evolving market conditions.
Bears say
The financial analysis indicates a concerning trend for NOV, as adjusted EBITDA of $135.0 million reflects a significant 21.5% decline year-over-year, despite a slight beat against estimates. Furthermore, total revenue of $2,176 million remained flat compared to previous periods and is expected to decrease by 2-4% year-over-year, highlighting stagnation in sales amid a challenging market environment characterized by lower industry activity levels. Additionally, forward guidance suggests a continued decline in revenue, with projections indicating a potential fall of 5-10% on a year-over-year basis, largely attributed to decreased global drilling activity and delays in capital equipment orders.
This aggregate rating is based on analysts' research of NOV and is not a guaranteed prediction by Public.com or investment advice.
NOV (NOV) Analyst Forecast & Price Prediction
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