NOW (DNOW) Stock Price Up 5.4%
Shares of NOW Inc. (NYSE:DNOW) rose 5.4% during trading on Monday . The stock traded as high as $10.58 and last traded at $10.57. Approximately 1,396,149 shares were traded during mid-day trading, an increase of 4% from the average daily volume of 1,337,825 shares. The stock had previously closed at $10.03.
DNOW has been the subject of several analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $18.00 price objective on shares of NOW in a research note on Tuesday, October 17th. BidaskClub raised NOW from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Cowen set a $14.00 price objective on NOW and gave the stock a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research raised NOW from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, Robert W. Baird reissued a “hold” rating and issued a $13.00 price objective on shares of NOW in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. NOW currently has a consensus rating of “Hold” and a consensus price target of $16.20.
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 issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.01. The company had revenue of $697.00 million during the quarter, compared to the consensus estimate of $701.29 million. NOW had a negative return on equity of 5.17% and a negative net margin of 4.77%. NOW’s revenue was up 34.0% on a year-over-year basis. During the same period last year, the business posted ($0.34) earnings per share. analysts predict that NOW Inc. will post -0.34 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. increased its position 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 acquiring an additional 242,805 shares during the last quarter. Vanguard Group Inc. increased its position 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 acquiring an additional 148,959 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in NOW by 1.3% during the third quarter. First Eagle Investment Management LLC now owns 7,779,652 shares of the oil and gas company’s stock valued at $107,437,000 after purchasing an additional 103,500 shares during the period. Dimensional Fund Advisors LP grew its holdings in NOW by 6.0% during the third quarter. Dimensional Fund Advisors LP now owns 4,788,397 shares of the oil and gas company’s stock valued at $66,127,000 after purchasing an additional 272,430 shares during the period. Finally, State Street Corp grew its holdings in NOW by 3.1% during the second quarter. State Street Corp now owns 3,575,912 shares of the oil and gas company’s stock valued at $57,500,000 after purchasing an additional 107,411 shares during the period. 96.71% of the stock is owned by institutional investors.
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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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