NOW Inc (NYSE:DNOW) – Equities researchers at Capital One Financial dropped their FY2020 EPS estimates for NOW in a note issued to investors on Thursday, November 1st. Capital One Financial analyst L. Lemoine now expects that the oil and gas company will post earnings per share of $0.96 for the year, down from their previous forecast of $0.98.
DNOW has been the topic of several other reports. Northcoast Research began coverage on shares of NOW in a research note on Tuesday, July 31st. They issued a “neutral” rating on the stock. Robert W. Baird reissued a “hold” rating and issued a $17.00 price target on shares of NOW in a research note on Friday, August 3rd. Zacks Investment Research downgraded shares of NOW from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Stifel Nicolaus raised their price target on shares of NOW from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Finally, Susquehanna Bancshares set a $16.00 price target on shares of NOW and gave the stock a “hold” rating in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $15.44.
NYSE:DNOW opened at $15.94 on Monday. The company has a current ratio of 2.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.62 billion, a PE ratio of 55.33 and a beta of 1.28. NOW has a twelve month low of $9.12 and a twelve month high of $18.56.
NOW (NYSE:DNOW) last posted its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.04. The firm had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.80 million. NOW had a net margin of 1.09% and a return on equity of 2.43%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the firm posted ($0.03) earnings per share.
Hedge funds have recently modified their holdings of the business. Icon Wealth Partners LLC purchased a new position in NOW during the second quarter worth about $105,000. NumerixS Investment Technologies Inc purchased a new position in NOW during the second quarter worth about $120,000. Neuburgh Advisers LLC raised its stake in NOW by 51.7% during the second quarter. Neuburgh Advisers LLC now owns 10,560 shares of the oil and gas company’s stock worth $141,000 after purchasing an additional 3,600 shares during the period. Cullen Frost Bankers Inc. purchased a new position in NOW during the second quarter worth about $146,000. Finally, Glen Harbor Capital Management LLC raised its stake in NOW by 51.7% during the second quarter. Glen Harbor Capital Management LLC now owns 14,520 shares of the oil and gas company’s stock worth $194,000 after purchasing an additional 4,950 shares during the period.
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, 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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