NOW Inc. (NYSE:DNOW) Expected to Announce Quarterly Sales of $420.97 Million

Wall Street brokerages expect that NOW Inc. (NYSE:DNOW) will post $420.97 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for NOW’s earnings, with the lowest sales estimate coming in at $417.40 million and the highest estimate coming in at $425.30 million. NOW posted sales of $319.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 32%. The business is scheduled to report its next quarterly earnings report on Wednesday, February 16th.

According to Zacks, analysts expect that NOW will report full year sales of $1.62 billion for the current year, with estimates ranging from $1.61 billion to $1.63 billion. For the next year, analysts expect that the firm will post sales of $1.85 billion, with estimates ranging from $1.83 billion to $1.88 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for NOW.

NOW (NYSE:DNOW) last issued its quarterly earnings results on Wednesday, November 3rd. The oil and gas company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $439.00 million for the quarter, compared to the consensus estimate of $422.80 million. NOW had a negative return on equity of 3.88% and a negative net margin of 3.36%. The company’s revenue for the quarter was up 34.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.16) earnings per share.

DNOW has been the topic of several research reports. Stephens upgraded NOW from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective on the stock in a report on Thursday, November 4th. Zacks Investment Research upgraded NOW from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Monday, November 8th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $10.50.

DNOW traded down $0.03 during trading on Thursday, hitting $9.70. 990,016 shares of the stock were exchanged, compared to its average volume of 1,034,498. The firm has a 50 day simple moving average of $8.46 and a 200 day simple moving average of $8.98. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -21.09 and a beta of 1.97. NOW has a 1 year low of $5.44 and a 1 year high of $11.98.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in NOW by 3.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,132,963 shares of the oil and gas company’s stock valued at $8,667,000 after acquiring an additional 37,731 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of NOW by 28.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 171,259 shares of the oil and gas company’s stock worth $1,310,000 after purchasing an additional 37,436 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of NOW by 46.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 132,370 shares of the oil and gas company’s stock worth $1,012,000 after purchasing an additional 42,237 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of NOW by 298.5% in the 3rd quarter. Two Sigma Investments LP now owns 237,103 shares of the oil and gas company’s stock worth $1,814,000 after purchasing an additional 177,603 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of NOW by 121.8% in the 3rd quarter. LPL Financial LLC now owns 57,449 shares of the oil and gas company’s stock worth $439,000 after purchasing an additional 31,550 shares in the last quarter. 92.28% of the stock is currently owned by institutional investors and hedge funds.

NOW Company Profile

NOW, Inc is a holding company, which engages in the distribution of energy products for industrial applications. It operates through the following segments: United States, Canada, and International. The United States segment serves the upstream, midstream and downstream energy, and industrial markets.

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Earnings History and Estimates for NOW (NYSE:DNOW)

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