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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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