NOW Inc. (DNOW) Lowered to Neutral at UBS AG
UBS AG lowered shares of NOW Inc. (NYSE:DNOW) from a positive rating to a neutral rating in a research report sent to investors on Thursday morning, The Fly reports.
Other equities analysts have also recently issued reports about the company. Stifel Nicolaus set a $18.00 price target on NOW and gave the stock a buy rating in a report on Wednesday, August 2nd. BidaskClub cut NOW from a sell rating to a strong sell rating in a report on Monday, August 14th. Zacks Investment Research upgraded NOW from a sell rating to a hold rating in a report on Wednesday, November 1st. J P Morgan Chase & Co lowered their price target on NOW from $15.00 to $12.00 and set a neutral rating for the company in a report on Tuesday, September 12th. Finally, Robert W. Baird reiterated a neutral rating and set a $15.00 price target (down from $20.00) on shares of NOW in a report on Monday, October 9th. 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 has an average rating of Hold and a consensus price target of $16.20.
NOW (NYSE:DNOW) opened at $10.75 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.72 and a quick ratio of 1.39.
NOW (NYSE:DNOW) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 5.17% and a negative net margin of 4.77%. The company’s revenue was up 34.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.34) EPS. analysts anticipate that NOW will post -0.31 EPS for the current year.
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A number of institutional investors have recently made changes to their positions in DNOW. BlackRock Inc. boosted its holdings in NOW by 16,819.9% during the 1st quarter. BlackRock Inc. now owns 11,399,636 shares of the oil and gas company’s stock valued at $193,337,000 after acquiring an additional 11,332,262 shares during the period. Dimensional Fund Advisors LP boosted its holdings in NOW by 42.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,515,967 shares of the oil and gas company’s stock valued at $72,615,000 after acquiring an additional 1,353,934 shares during the period. Black Creek Investment Management Inc. boosted its holdings in NOW by 50.1% during the 2nd quarter. Black Creek Investment Management Inc. now owns 2,333,200 shares of the oil and gas company’s stock valued at $37,518,000 after acquiring an additional 779,200 shares during the period. Vanguard Group Inc. boosted its holdings in NOW by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 8,787,117 shares of the oil and gas company’s stock valued at $149,030,000 after acquiring an additional 739,256 shares during the period. Finally, QV Investors Inc. boosted its holdings in NOW by 44.8% during the 3rd quarter. QV Investors Inc. now owns 2,178,087 shares of the oil and gas company’s stock valued at $30,079,000 after acquiring an additional 674,348 shares during the period. 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.
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