NOW Inc. (DNOW) Cut to Strong Sell at BidaskClub
BidaskClub lowered shares of NOW Inc. (NYSE:DNOW) from a sell rating to a strong sell rating in a research report released on Friday morning.
Several other research firms have also recently commented on DNOW. Zacks Investment Research cut shares of NOW from a hold rating to a sell rating in a research note on Monday, July 17th. Stifel Nicolaus reissued a buy rating on shares of NOW in a research note on Friday, July 14th. Credit Suisse Group set a $15.00 target price on shares of NOW and gave the company a hold rating in a research note on Friday, August 4th. Robert W. Baird reissued a neutral rating and set a $15.00 target price (down previously from $20.00) on shares of NOW in a research note on Monday, October 9th. Finally, Cowen and Company set a $14.00 target price on shares of NOW and gave the company a hold rating in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $16.20.
NOW (NYSE:DNOW) traded down $0.12 during mid-day trading on Friday, hitting $10.70. 1,133,600 shares of the company were exchanged, compared to its average volume of 1,338,634. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 2.72. NOW has a 1-year low of $10.54 and a 1-year high of $23.53.
NOW (NYSE:DNOW) last released its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. The firm had revenue of $697.00 million for 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%. NOW’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.34) EPS. research analysts forecast that NOW will post -0.32 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of NOW by 6.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,788,397 shares of the oil and gas company’s stock worth $66,127,000 after purchasing an additional 272,430 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of NOW by 14.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,128,498 shares of the oil and gas company’s stock worth $15,585,000 after purchasing an additional 144,999 shares during the last quarter. Investec Asset Management LTD acquired a new position in shares of NOW in the 3rd quarter worth approximately $40,414,000. Wells Fargo & Company MN grew its stake in shares of NOW by 2.9% in the 3rd quarter. Wells Fargo & Company MN now owns 853,511 shares of the oil and gas company’s stock worth $11,787,000 after purchasing an additional 24,348 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of NOW by 4.6% in the 3rd quarter. Legal & General Group Plc now owns 176,686 shares of the oil and gas company’s stock worth $2,437,000 after purchasing an additional 7,795 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.
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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