Cowen and Company Trims NOW Inc. (DNOW) Target Price to $10.00
NOW Inc. (NYSE:DNOW) had its price objective lowered by Cowen and Company from $14.00 to $10.00 in a report issued on Thursday, MarketBeat Ratings reports. The brokerage currently has a market perform rating on the oil and gas company’s stock.
DNOW has been the subject of several other reports. BidaskClub lowered shares of NOW from a hold rating to a sell rating in a report on Monday, October 23rd. Zacks Investment Research lowered shares of NOW from a hold rating to a sell rating in a report on Monday, July 17th. J P Morgan Chase & Co decreased their price objective on shares of NOW from $15.00 to $12.00 and set a neutral rating for the company in a report on Tuesday, September 12th. Credit Suisse Group set a $15.00 price objective on shares of NOW and gave the stock a hold rating in a report on Friday, August 4th. Finally, Robert W. Baird lowered shares of NOW from an outperform rating to a neutral rating and decreased their price objective for the stock from $20.00 to $15.00 in a report on Friday, October 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $16.20.
Shares of NOW (DNOW) traded down $0.33 on Thursday, reaching $10.75. 2,106,081 shares of the company’s stock traded hands, compared to its average volume of 1,565,773. The company has a current ratio of 2.72, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14.
NOW (NYSE:DNOW) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. The business had revenue of $697.00 million during the quarter, compared to analysts’ expectations of $701.29 million. NOW had a negative net margin of 4.77% and a negative return on equity of 5.17%. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.34) EPS. equities research analysts expect that NOW will post -0.31 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This report was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://www.watchlistnews.com/cowen-and-company-trims-now-inc-dnow-target-price-to-10-00/1681023.html.
Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can increased its stake in shares of NOW by 130.2% in the 2nd quarter. Bank of Montreal Can now owns 6,966 shares of the oil and gas company’s stock worth $112,000 after acquiring an additional 3,940 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of NOW in the 1st quarter worth about $127,000. Riverhead Capital Management LLC increased its stake in shares of NOW by 70.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,990 shares of the oil and gas company’s stock worth $128,000 after acquiring an additional 3,290 shares in the last quarter. Shell Asset Management Co. bought a new position in shares of NOW in the 3rd quarter worth about $137,000. Finally, LS Investment Advisors LLC increased its stake in shares of NOW by 18.9% in the 2nd quarter. LS Investment Advisors LLC now owns 8,916 shares of the oil and gas company’s stock worth $143,000 after acquiring an additional 1,420 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.
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.
Receive News & Ratings for NOW Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NOW Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.