Thursday, February 7, 2013

National Oilwell Varco (NOV) :Update

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National Oilwell Varco NOV reported earnings February 1st of $5.83 a share for the 2012 FY,an increase of 24% from FY '11.

 Current estimates for 2013 and 2014 are $6.40 and $7.38, a growth rate of 9.77% and 15.3%, respectively. Currently- annual growth for the next 5 years is estimated at 16.7%.

The stock is trading $67.25 with a PEG of .67 giving you based on growth of about $100.00 fair market value. Based on the earnings report and NOV call for lower earnings for the first half of '13 Link Earnings Call Transcript

ITZ has lowered '13 & '14 estimated earnings... see chart below. Lowering 12 month PT from $105 chart to $96, based on a 15 times PE.
ITZ has a 1/4 position currently @ $70.50 entered 2/1/13. It had a 1/2 position prior $73.50 stopped out @ $72.50 see comments @ link  ITZ believes that NOV presents a long term value and will add to position soon (watching $66 level). Follow ITZ on Twitter for up to date posts.

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