Here's Why Nov Inc. (NOV) is a Strong Value Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why Investors Should Pay Attention to This Value Stock
Value investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, and Price/Cash Flow, the Value Style Score identifies the most attractive and most discounted stocks.
Nov Inc. (NOV)
Incorporated in 1995, Houston, TX based NOV Inc., formerly National Oilwell Varco, is a world leader in the design, manufacture, and sale of comprehensive systems, components, products, and equipment used in oil and gas drilling and production worldwide. The company's extensive portfolio of proprietary technologies is aimed at lowering the industry's marginal cost per barrel.
NOV sits at a Zacks Rank #3 (Hold), holds a Value Style Score of B, and has a VGM Score of B. Compared to the Technology Services industry's P/E of 23.5X, shares of Nov Inc. are trading at a forward P/E of 13.9X. NOV also has a PEG Ratio of 0.3, a Price/Cash Flow ratio of 17.7X, and a Price/Sales ratio of 1X.
Many value investors pay close attention to a company's earnings as well. For NOV, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $1.48 per share for 2023. Per share NOV boasts an average earnings surprise of 10.5%.
Investors should take the time to consider NOV for their portfolios due to its solid Zacks Ranks, notable earnings and valuation metrics, and impressive Value and VGM Style Scores.
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NOV Inc. (NOV) : Free Stock Analysis Report
