NOW Inc. (DNOW) Expected to Announce Earnings of -$0.04 Per Share
Brokerages expect NOW Inc. (NYSE:DNOW) to announce ($0.04) earnings per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for NOW’s earnings, with estimates ranging from ($0.07) to $0.00. NOW posted earnings of ($0.34) per share in the same quarter last year, which would suggest a positive year over year growth rate of 88.2%. The firm is scheduled to announce its next earnings results before the market opens on Wednesday, November 1st.
According to Zacks, analysts expect that NOW will report full year earnings of ($0.28) per share for the current year, with EPS estimates ranging from ($0.34) to ($0.19). For the next fiscal year, analysts anticipate that the business will post earnings of $0.28 per share, with EPS estimates ranging from $0.00 to $0.44. Zacks’ EPS averages are a mean average based on a survey of research firms that that provide coverage for NOW.
NOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.10) EPS for the quarter, meeting the consensus estimate of ($0.10). The firm had revenue of $651.00 million during the quarter, compared to the consensus estimate of $674.97 million. NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.40) earnings per share.
Several research firms have recently issued reports on DNOW. BidaskClub lowered shares of NOW from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Zacks Investment Research lowered shares of NOW from a “hold” rating to a “sell” rating in a report on Tuesday. Stifel Nicolaus restated a “buy” rating and issued a $18.00 target price on shares of NOW in a report on Tuesday. Robert W. Baird restated a “neutral” rating and issued a $15.00 target price (down previously from $20.00) on shares of NOW in a report on Monday, October 9th. Finally, Cowen and Company set a $14.00 target price on shares of NOW and gave the stock a “hold” rating in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $17.78.
Shares of NOW (NYSE DNOW) traded up 1.53% during trading on Thursday, hitting $13.26. 1,091,478 shares of the stock traded hands. NOW has a 12 month low of $11.31 and a 12 month high of $23.53. The stock’s market cap is $1.43 billion. The firm’s 50-day moving average price is $12.85 and its 200-day moving average price is $15.22.
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A number of institutional investors and hedge funds have recently made changes to their positions in DNOW. Comerica Bank lifted its holdings in NOW by 4.6% during the 1st quarter. Comerica Bank now owns 84,669 shares of the oil and gas company’s stock valued at $1,445,000 after buying an additional 3,704 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in NOW by 15.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 80,536 shares of the oil and gas company’s stock valued at $1,366,000 after buying an additional 11,030 shares in the last quarter. Karp Capital Management Corp bought a new stake in NOW during the 1st quarter valued at about $593,000. Ameriprise Financial Inc. lifted its holdings in NOW by 3.4% during the 1st quarter. Ameriprise Financial Inc. now owns 294,445 shares of the oil and gas company’s stock valued at $4,994,000 after buying an additional 9,672 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in NOW by 98.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,434,114 shares of the oil and gas company’s stock valued at $24,323,000 after buying an additional 710,500 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.
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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