NOW Inc (NYSE:DNOW) – Equities research analysts at Seaport Global Securities raised their FY2018 earnings estimates for shares of NOW in a report issued on Thursday, November 1st. Seaport Global Securities analyst W. Liptak now expects that the oil and gas company will post earnings per share of $0.42 for the year, up from their prior estimate of $0.37. Seaport Global Securities also issued estimates for NOW’s Q1 2019 earnings at $0.11 EPS, Q3 2019 earnings at $0.27 EPS, Q4 2019 earnings at $0.25 EPS and FY2019 earnings at $0.84 EPS.
NOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The business had revenue of $822.00 million during the quarter, compared to analysts’ expectations of $805.80 million. NOW had a return on equity of 2.43% and a net margin of 1.09%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) EPS.
A number of other brokerages have also recently commented on DNOW. Zacks Investment Research cut NOW from a “buy” rating to a “hold” rating in a report on Friday. Robert W. Baird dropped their target price on NOW from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Friday. Cowen initiated coverage on NOW in a report on Saturday, October 13th. They issued a “hold” rating and a $17.00 target price for the company. ValuEngine cut NOW from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Finally, Susquehanna Bancshares set a $16.00 target price on NOW and gave the stock a “hold” rating in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. NOW presently has an average rating of “Hold” and an average price target of $15.44.
NYSE DNOW opened at $15.89 on Monday. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -58.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.72 and a quick ratio of 1.44. NOW has a 1-year low of $9.12 and a 1-year high of $18.56.
A number of institutional investors and hedge funds have recently bought and sold shares of DNOW. Hennessy Advisors Inc. purchased a new position in NOW during the 3rd quarter valued at $27,284,000. Millennium Management LLC purchased a new position in NOW during the 2nd quarter valued at $15,382,000. Rice Hall James & Associates LLC purchased a new position in NOW during the 2nd quarter valued at $15,273,000. Dimensional Fund Advisors LP boosted its holdings in NOW by 20.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,636,170 shares of the oil and gas company’s stock valued at $88,460,000 after acquiring an additional 1,122,053 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in NOW by 6.5% during the 2nd quarter. Baillie Gifford & Co. now owns 14,343,559 shares of the oil and gas company’s stock valued at $191,199,000 after acquiring an additional 880,642 shares during the period.
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, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.
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