NOW Inc. (DNOW) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of NOW Inc. (NYSE:DNOW) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $19.11.
Several equities research analysts have recently commented on DNOW shares. Stifel Nicolaus started coverage on shares of NOW in a research report on Tuesday, June 6th. They set a “buy” rating and a $21.00 price target for the company. Credit Suisse Group set a $15.00 price target on shares of NOW and gave the company a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research raised shares of NOW from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. BidaskClub lowered shares of NOW from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Seaport Global Securities lowered shares of NOW from a “buy” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $17.00 in a research report on Wednesday, June 21st.
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NOW (NYSE:DNOW) opened at 12.62 on Friday. The firm’s 50-day moving average is $12.55 and its 200-day moving average is $15.81. NOW has a 12 month low of $11.31 and a 12 month high of $23.53. The company’s market cap is $1.36 billion.
NOW (NYSE:DNOW) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. The firm had revenue of $651.00 million during the quarter, compared to analyst estimates of $674.97 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, analysts anticipate that NOW will post ($0.24) EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its holdings in NOW by 130.2% in the 2nd quarter. Bank of Montreal Can now owns 6,966 shares of the oil and gas company’s stock worth $112,000 after acquiring an additional 3,940 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in NOW in the 1st quarter worth approximately $127,000. Riverhead Capital Management LLC increased its holdings in NOW by 70.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,990 shares of the oil and gas company’s stock worth $128,000 after acquiring an additional 3,290 shares in the last quarter. LS Investment Advisors LLC increased its holdings in NOW by 18.9% in the 2nd quarter. LS Investment Advisors LLC now owns 8,916 shares of the oil and gas company’s stock worth $143,000 after acquiring an additional 1,420 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in NOW in the 2nd quarter worth approximately $170,000. 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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