Wall Street brokerages forecast that NOW Inc. (NYSE:DNOW) will post sales of $699.04 million for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for NOW’s earnings, with the lowest sales estimate coming in at $692.00 million and the highest estimate coming in at $709.00 million. NOW posted sales of $520.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 34.4%. The business is expected to announce its next earnings report before the market opens on Wednesday, November 1st.
On average, analysts expect that NOW will report full-year sales of $699.04 million for the current financial year, with estimates ranging from $2.69 billion to $2.74 billion. For the next year, analysts anticipate that the company will report sales of $3.16 billion per share, with estimates ranging from $3.00 billion to $3.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow NOW.
NOW (NYSE:DNOW) last issued its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). The company had revenue of $651.00 million during the quarter, compared to the consensus estimate of $674.97 million. NOW had a negative return on equity of 7.83% and a negative net margin of 7.14%. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the business posted ($0.40) EPS.
DNOW has been the subject of a number of research reports. Stifel Nicolaus reissued a “buy” rating and issued a $18.00 price target on shares of NOW in a research note on Thursday, September 7th. BidaskClub raised shares of NOW from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Zacks Investment Research raised shares of NOW from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Credit Suisse Group set a $15.00 price target on shares of NOW and gave the stock a “hold” rating in a research note on Friday, August 4th. Finally, Cowen and Company set a $14.00 price target on shares of NOW and gave the stock a “hold” rating in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.78.
Shares of NOW (NYSE DNOW) traded up 1.53% during mid-day trading on Friday, hitting $13.26. The stock had a trading volume of 1,091,478 shares. The firm’s market capitalization is $1.43 billion. NOW has a 1-year low of $11.31 and a 1-year high of $23.53. The stock’s 50-day moving average is $12.85 and its 200 day moving average is $15.22.
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Several hedge funds and other institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. increased its stake in shares of NOW by 1.9% during the second quarter. Baillie Gifford & Co. now owns 13,065,945 shares of the oil and gas company’s stock valued at $210,101,000 after purchasing an additional 242,805 shares in the last quarter. BlackRock Inc. increased its stake in shares of NOW by 16,819.9% during the first quarter. BlackRock Inc. now owns 11,399,636 shares of the oil and gas company’s stock valued at $193,337,000 after purchasing an additional 11,332,262 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of NOW by 1.7% during the second quarter. Vanguard Group Inc. now owns 8,936,076 shares of the oil and gas company’s stock valued at $143,693,000 after purchasing an additional 148,959 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of NOW by 7.4% during the first quarter. Clearbridge Investments LLC now owns 6,990,717 shares of the oil and gas company’s stock valued at $118,563,000 after purchasing an additional 482,245 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of NOW by 42.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,515,967 shares of the oil and gas company’s stock valued at $72,615,000 after purchasing an additional 1,353,934 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.
NOW Company Profile
NOW Inc (NOW) is a global distributor to the oil and gas and industrial markets. The Company operates under the DistributionNOW and Wilson Export brands. Its segments include the United States, Canada and International. As of December 31, 2016, its segments, the United States, Canada and International, had over 200, 55 and 35 locations, respectively.
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