Here are previews of three firms set to report results after markets close on Monday.
NOV
Oilfield services company NOV Inc. (NYSE: NOV) dumped its old name (National Oilwell Varco) two years ago, following the lead of TransCanada, which changed its name to the innocuous TC in 2019. Whether or not the name change had anything to do with it, NOV’s stock is up nearly 85% over the past two years. Is it time to declare victory and take profits or would it be a better bet to hold on or perhaps even accumulate more shares?
Analysts remain bullish on the stock. Of 25 brokerages covering it, 16 have a Buy or Strong Buy rating and eight more rate shares at Hold. At a recent price of around $23.00 a share, the implied upside based on a median price target of $26.00 is about 13%. At the high target of $32.00, the upside potential is 39.1%.
Fourth-quarter revenue is forecast at $1.96 billion, which would be up 3.5% sequentially and by nearly 30% year over year. Adjusted EPS are forecast at $0.24, up 53.5% sequentially and up sharply from a year-ago loss per share of $0.08. For the full 2022 fiscal year, analysts expect NOV to post EPS of $0.57, up from last year’s loss of $0.50 per share, on sales of $7.12 billion, up 28.9%.
NOV shares trade at about 40.2 times expected 2022 EPS, 20.3 times estimated 2023 earnings of $1.13 and 14.4 times estimated 2024 earnings of $1.59 per share. The stock’s 52-week trading range is $13.98 to $24.83. NOV pays an annual dividend of $0.20 (yield of 0.82%). Over the past 12 months, total shareholder return was 33%.
Since its IPO just weeks before the COVID-19 pandemic, Pinterest Inc. (NYSE: PINS) stock soared to an all-time high of nearly $90. Since then, the shares have dropped by two-thirds. From a recent low of about $16 in May, the stock is up 64%. The company laid off an unspecified number of workers in December and announced earlier this week that another 150 would reportedly lose their jobs. A competitor for the Gen Z crowd, Landing, is expected to launch its mobile app early this year. Pinterest reported double-digit sequential growth in its Gen Z users at the end of its prior quarter.
Analysts are slightly bullish on the company. Of 33 brokerages covering the stock, 12 have a Buy or Strong Buy rating, while 19 have Hold ratings. At around $28.60 apiece, the shares trade slightly above their median price target of $28.00. At the high target of $43.00, the upside potential is 50.3%.
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