Wall Street brokerages forecast that NOW Inc (NYSE:DNOW) will report sales of $772.88 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for NOW’s earnings, with estimates ranging from $747.90 million to $791.00 million. NOW posted sales of $822.00 million in the same quarter last year, which suggests a negative year over year growth rate of 6%. The business is scheduled to announce its next earnings results before the market opens on Wednesday, November 6th.
According to Zacks, analysts expect that NOW will report full year sales of $3.05 billion for the current fiscal year, with estimates ranging from $3.00 billion to $3.13 billion. For the next year, analysts anticipate that the business will report sales of $3.08 billion, with estimates ranging from $2.95 billion to $3.30 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover NOW.
NOW (NYSE:DNOW) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $0.09 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.09. The business had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $767.19 million. NOW had a net margin of 2.16% and a return on equity of 4.13%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share.
DNOW has been the subject of a number of recent research reports. ValuEngine upgraded shares of NOW from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus reduced their target price on shares of NOW from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, July 15th. Zacks Investment Research upgraded shares of NOW from a “sell” rating to a “hold” rating in a research report on Wednesday. Capital One Financial upgraded shares of NOW from an “equal weight” rating to an “overweight” rating and set a $16.00 target price for the company in a research report on Friday, August 2nd. Finally, Cowen reiterated a “market perform” rating and issued a $10.00 target price (down from $11.00) on shares of NOW in a research report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $13.80.
A number of institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC raised its stake in NOW by 4.1% in the first quarter. Clearbridge Investments LLC now owns 9,467,335 shares of the oil and gas company’s stock worth $132,164,000 after buying an additional 375,350 shares in the last quarter. First Trust Advisors LP bought a new position in shares of NOW during the first quarter valued at approximately $913,000. Investors Research Corp increased its stake in shares of NOW by 61.6% during the second quarter. Investors Research Corp now owns 2,362 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 900 shares in the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its stake in shares of NOW by 14.4% during the second quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 199,000 shares of the oil and gas company’s stock valued at $2,937,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Marathon Asset Management LLP increased its stake in shares of NOW by 34.2% during the second quarter. Marathon Asset Management LLP now owns 1,133,661 shares of the oil and gas company’s stock valued at $16,732,000 after purchasing an additional 289,033 shares in the last quarter.
Shares of NYSE DNOW traded down $0.02 during mid-day trading on Thursday, reaching $10.35. The company’s stock had a trading volume of 566,912 shares, compared to its average volume of 783,350. The stock has a 50-day moving average of $11.40 and a two-hundred day moving average of $13.06. The stock has a market capitalization of $1.13 billion, a P/E ratio of 28.75 and a beta of 1.39. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.28 and a current ratio of 2.55. NOW has a 1-year low of $10.00 and a 1-year high of $16.24.
NOW Company Profile
NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as applied products and applications, such as artificial lift systems, coatings, and other expendable items.
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