$674.53 Million in Sales Expected for NOW Inc. (NYSE:DNOW) This Quarter
Wall Street brokerages expect NOW Inc. (NYSE:DNOW) to report sales of $674.53 million for the current quarter, Zacks reports. Five analysts have provided estimates for NOW’s earnings, with estimates ranging from $661.21 million to $680.30 million. NOW posted sales of $501.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 34.6%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, August 2nd.
On average, analysts expect that NOW will report full-year sales of $674.53 million for the current year, with estimates ranging from $2.72 billion to $2.85 billion. For the next financial year, analysts expect that the company will post sales of $3.41 billion per share, with estimates ranging from $3.10 billion to $3.69 billion. Zacks’ sales averages are an average based on a survey of research firms that cover NOW.
NOW (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, May 3rd. The oil and gas company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.08. The firm had revenue of $631 million during the quarter, compared to analysts’ expectations of $605.07 million. NOW had a negative return on equity of 10.27% and a negative net margin of 8.86%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) EPS.
DNOW has been the topic of several recent research reports. Credit Suisse Group dropped their target price on NOW from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, May 15th. Stephens upgraded NOW from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $24.00 to $23.00 in a research report on Thursday, May 4th. Zacks Investment Research upgraded NOW from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Tuesday, April 18th. Robert W. Baird upgraded NOW from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $20.00 to $22.00 in a research report on Wednesday, April 26th. Finally, Cowen and Company dropped their target price on NOW from $22.00 to $19.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 11th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $20.00.
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In other NOW news, Director James Crandell acquired 5,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were bought at an average price of $17.53 per share, for a total transaction of $87,650.00. Following the completion of the transaction, the director now owns 22,562 shares of the company’s stock, valued at approximately $395,511.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DNOW. Ladenburg Thalmann Financial Services Inc. boosted its position in NOW by 13.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,899 shares of the oil and gas company’s stock worth $121,000 after buying an additional 711 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in NOW during the first quarter worth approximately $127,000. Cambridge Investment Research Advisors Inc. boosted its position in NOW by 10.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,717 shares of the oil and gas company’s stock worth $216,000 after buying an additional 1,219 shares in the last quarter. Credit Agricole S A purchased a new position in NOW during the fourth quarter worth approximately $276,000. Finally, Advantus Capital Management Inc boosted its position in NOW by 3.0% in the first quarter. Advantus Capital Management Inc now owns 13,760 shares of the oil and gas company’s stock worth $233,000 after buying an additional 403 shares in the last quarter. 98.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of NOW (DNOW) traded down 4.69% during trading on Friday, reaching $15.04. The company’s stock had a trading volume of 357,684 shares. The stock has a 50-day moving average of $16.98 and a 200-day moving average of $18.71. NOW has a 52-week low of $14.96 and a 52-week high of $23.53. The stock’s market cap is $1.62 billion.
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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