
NOV (NOV) Stock Forecast & Price Target
NOV (NOV) Analyst Ratings
Bulls say
NOV has experienced significant growth in demand for offshore production equipment, translating into substantial year-over-year and sequential revenue increases, particularly highlighted by an impressive energy equipment backlog of $4,560 million. The company's EBITDA margins improved to 14.4%, reflecting effective cost controls and operational efficiencies, outperforming previous forecasts and indicating a solid foundation for future profitability. Furthermore, management anticipates continued margin expansion and revenue growth driven by increased industry utilization and rising service demand, even amidst potential market challenges.
Bears say
The financial data indicates a downward trend for NOV, highlighted by a 7.5% decline in adjusted EBITDA to $135.0 million compared to the prior quarter and a significant 21.5% drop from the same period last year. Total revenue for the recent quarter was $2,176 million, virtually unchanged compared to the previous quarters and indicating stagnation in year-over-year growth, with projections suggesting a revenue decrease of 2-4% for the upcoming year. Additionally, lower global drilling activity and delays in infrastructure projects continue to negatively impact capital equipment orders, further contributing to an anticipated 8-10% revenue decline moving forward.
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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