NOW Inc (NYSE:DNOW) – KeyCorp cut their Q2 2020 earnings estimates for shares of NOW in a report released on Wednesday, July 8th. KeyCorp analyst S. Barger now expects that the oil and gas company will earn ($0.35) per share for the quarter, down from their prior estimate of ($0.14). KeyCorp currently has a “Overweight” rating and a $14.00 target price on the stock. KeyCorp also issued estimates for NOW’s FY2020 earnings at ($0.94) EPS and FY2021 earnings at ($0.52) EPS.

NOW (NYSE:DNOW) last posted its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.01). NOW had a positive return on equity of 0.45% and a negative net margin of 16.10%. The firm had revenue of $604.00 million for the quarter, compared to analysts’ expectations of $622.12 million. During the same quarter in the previous year, the firm posted $0.12 earnings per share. The firm’s revenue for the quarter was down 23.1% compared to the same quarter last year.

DNOW has been the topic of several other reports. Cowen upgraded NOW from a “market perform” rating to an “outperform” rating and set a $8.00 price objective on the stock in a research report on Tuesday, April 14th. ValuEngine upgraded NOW from a “hold” rating to a “buy” rating in a research note on Thursday, May 7th. Stephens reiterated an “overweight” rating and issued a $9.00 target price (down from $12.00) on shares of NOW in a research note on Friday, April 3rd. Finally, Northland Securities assumed coverage on NOW in a research note on Friday. They issued a “buy” rating and a $9.50 target price for the company. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $11.93.

Shares of NYSE:DNOW opened at $8.12 on Monday. The company has a quick ratio of 1.52, a current ratio of 2.65 and a debt-to-equity ratio of 0.04. NOW has a 52-week low of $4.05 and a 52-week high of $13.57. The stock’s fifty day simple moving average is $8.29 and its 200-day simple moving average is $8.16. The company has a market capitalization of $923.66 million, a P/E ratio of -1.99 and a beta of 1.89.

Several hedge funds have recently bought and sold shares of DNOW. First Trust Advisors LP acquired a new stake in shares of NOW in the first quarter valued at about $913,000. Victory Capital Management Inc. grew its stake in shares of NOW by 44.0% in the fourth quarter. Victory Capital Management Inc. now owns 30,211 shares of the oil and gas company’s stock valued at $340,000 after buying an additional 9,235 shares in the last quarter. Bank of Montreal Can grew its stake in shares of NOW by 86.8% in the fourth quarter. Bank of Montreal Can now owns 27,293 shares of the oil and gas company’s stock valued at $307,000 after buying an additional 12,679 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of NOW by 7.9% in the fourth quarter. Prudential Financial Inc. now owns 75,117 shares of the oil and gas company’s stock valued at $844,000 after buying an additional 5,530 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in NOW by 695.1% in the fourth quarter. Panagora Asset Management Inc. now owns 150,497 shares of the oil and gas company’s stock valued at $1,692,000 after purchasing an additional 131,568 shares during the last quarter. Institutional investors and hedge funds own 99.40% of the company’s stock.

NOW Company Profile

NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as applied products and applications, such as artificial lift systems, coatings, and other expendable items.

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Earnings History and Estimates for NOW (NYSE:DNOW)

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