These Analysts Lower Their Forecasts On NOV Following Q3 Results
Portfolio Pulse from Avi Kapoor
NOV Inc. reported weaker-than-expected Q3 results, missing both revenue and earnings estimates. Despite improvements in cash flow and margins, analysts have lowered their price targets for NOV. The company expects a decline in Q4 revenues. NOV shares rose slightly by 0.4%.
October 28, 2024 | 3:06 pm
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NOV Inc. reported Q3 results that missed revenue and earnings estimates, leading analysts to lower their price targets. Despite some operational improvements, the company expects a decline in Q4 revenues.
NOV's Q3 results missed both revenue and earnings estimates, which is a negative indicator for the stock. Analysts have responded by lowering their price targets, suggesting a bearish outlook. The company's guidance for a decline in Q4 revenues further supports a negative short-term impact on the stock price.
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