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Here's Why Nov Inc. (NOV) is a Strong Value Stock

Zacks Equity Research
·2-min read

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

Finding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, and Price/Cash Flow to highlight the most attractive and discounted stocks.

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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 A, and has a VGM Score of B. Compared to the Technology Services industry's P/E of 24.5X, shares of Nov Inc. are trading at a forward P/E of 11.7X. NOV also has a PEG Ratio of 0.6, a Price/Cash Flow ratio of 7.9X, and a Price/Sales ratio of 0.8X.

Many value investors pay close attention to a company's earnings as well. For NOV, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.02 to $1.56 per share for 2024. Per share NOV boasts an average earnings surprise of 13.9%.

NOV should be on investors' short lists because of its impressive earnings and valuation fundamentals, a good Zacks Rank, and strong Value and VGM Style Scores.

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NOV Inc. (NOV) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research