NOW Inc. (DNOW) Receives Consensus Rating of “Hold” from Analysts
Shares of NOW Inc. (NYSE:DNOW) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $18.33.
A number of equities research analysts have issued reports on the stock. BidaskClub upgraded shares of NOW from a “sell” rating to a “hold” rating in a research note on Saturday, September 23rd. Zacks Investment Research downgraded shares of NOW from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. J P Morgan Chase & Co reduced their price objective on shares of NOW from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 12th. Credit Suisse Group set a $15.00 price objective on shares of NOW and gave the stock a “hold” rating in a research note on Friday, August 4th. Finally, Cowen and Company set a $14.00 price objective on shares of NOW and gave the stock a “hold” rating in a research note on Friday, October 6th.
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Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can lifted its holdings in shares of NOW by 130.2% in the second 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 during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of NOW in the first quarter worth about $127,000. Riverhead Capital Management LLC lifted its holdings in shares of NOW by 70.0% in the second 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 during the last quarter. LS Investment Advisors LLC lifted its holdings in shares of NOW by 18.9% in the second 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 during the last quarter. Finally, HighTower Advisors LLC bought a new position in shares of NOW in the second quarter worth about $170,000. 99.97% of the stock is owned by hedge funds and other institutional investors.
NOW (NYSE:DNOW) opened at 13.29 on Wednesday. The company’s market capitalization is $1.43 billion. NOW has a 12-month low of $11.31 and a 12-month high of $23.53. The stock’s 50 day moving average is $12.69 and its 200-day moving average is $15.28.
NOW (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). The firm had revenue of $651.00 million for the quarter, compared to the consensus estimate of $674.97 million. NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.40) earnings per share. On average, equities analysts predict that NOW will post ($0.26) earnings per share for the current fiscal year.
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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