NOW Inc. (DNOW) Stock Rating Lowered by Citigroup Inc.
NOW Inc. (NYSE:DNOW) was downgraded by research analysts at Citigroup Inc. from a “positive” rating to a “neutral” rating in a research report issued on Thursday. They currently have a $11.00 price target on the oil and gas company’s stock, down from their previous price target of $19.00. Citigroup Inc.’s target price points to a potential upside of 2.33% from the company’s current price. The analysts noted that the move was a valuation call.
Other equities analysts also recently issued reports about the stock. Stifel Nicolaus reissued a “buy” rating on shares of NOW in a report on Friday, July 14th. BidaskClub raised shares of NOW from a “hold” rating to a “buy” rating in a report on Saturday, September 30th. Credit Suisse Group set a $15.00 price target on shares of NOW and gave the company a “hold” rating in a report on Friday, August 4th. Zacks Investment Research raised shares of NOW from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Cowen and Company set a $14.00 price target on shares of NOW and gave the company a “hold” rating in a report on Friday, October 6th. One 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 an average rating of “Hold” and a consensus target price of $16.20.
NOW (NYSE:DNOW) traded down $0.40 during trading hours on Thursday, hitting $10.75. 2,106,081 shares of the stock were exchanged, 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 (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. NOW had a negative net margin of 4.77% and a negative return on equity of 5.17%. The firm had revenue of $697.00 million during the quarter, compared to the consensus estimate of $701.29 million. During the same period last year, the firm posted ($0.34) EPS. The firm’s quarterly revenue was up 34.0% on a year-over-year basis. research analysts anticipate that NOW will post -0.31 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank raised its stake in shares of NOW by 0.7% in the second quarter. Amalgamated Bank now owns 15,153 shares of the oil and gas company’s stock worth $244,000 after acquiring an additional 105 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of NOW by 0.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,765 shares of the oil and gas company’s stock worth $270,000 after acquiring an additional 115 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of NOW by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 37,569 shares of the oil and gas company’s stock worth $604,000 after acquiring an additional 208 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of NOW by 1.4% in the second quarter. Neuberger Berman Group LLC now owns 29,396 shares of the oil and gas company’s stock worth $473,000 after acquiring an additional 413 shares during the last quarter. Finally, Global Endowment Management LP raised its stake in shares of NOW by 5.7% in the second quarter. Global Endowment Management LP now owns 11,180 shares of the oil and gas company’s stock worth $180,000 after acquiring an additional 600 shares during the last quarter. 96.71% of the stock is 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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