NOW Inc. (DNOW) Expected to Post Earnings of -$0.04 Per Share
Equities research analysts forecast that NOW Inc. (NYSE:DNOW) will report earnings of ($0.04) per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for NOW’s earnings. The lowest EPS estimate is ($0.07) and the highest is $0.00. NOW reported earnings of ($0.34) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 88.2%. The company is expected to report its next quarterly earnings report before the market opens on Wednesday, November 1st.
On average, analysts expect that NOW will report full-year earnings of ($0.27) per share for the current year, with EPS estimates ranging from ($0.34) to ($0.19). For the next year, analysts expect that the business will post earnings of $0.30 per share, with EPS estimates ranging from $0.00 to $0.46. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover NOW.
NOW (NYSE:DNOW) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.10). The firm had revenue of $651.00 million during the quarter, compared to the consensus estimate of $674.97 million. NOW had a negative return on equity of 7.83% and a negative net margin of 7.14%. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.40) earnings per share.
A number of equities research analysts have weighed in on DNOW shares. Seaport Global Securities lowered NOW from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $22.00 to $17.00 in a research note on Wednesday, June 21st. Stifel Nicolaus restated a “buy” rating on shares of NOW in a research note on Friday, July 14th. Zacks Investment Research lowered NOW from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. BidaskClub lowered NOW from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Credit Suisse Group set a $15.00 price objective on NOW and gave the company a “hold” rating in a research note on Friday, August 4th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $18.33.
Several institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank grew its position in shares of NOW by 0.7% in the 2nd quarter. Amalgamated Bank now owns 15,153 shares of the oil and gas company’s stock worth $244,000 after acquiring an additional 105 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of NOW by 0.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,765 shares of the oil and gas company’s stock worth $270,000 after acquiring an additional 115 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of NOW by 0.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 37,569 shares of the oil and gas company’s stock worth $604,000 after acquiring an additional 208 shares in the last quarter. Advantus Capital Management Inc grew its position in shares of NOW by 3.0% in the 1st quarter. Advantus Capital Management Inc now owns 13,760 shares of the oil and gas company’s stock worth $233,000 after acquiring an additional 403 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of NOW by 1.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 29,396 shares of the oil and gas company’s stock worth $473,000 after acquiring an additional 413 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.
NOW (NYSE DNOW) opened at 13.30 on Thursday. The company has a 50-day moving average price of $12.74 and a 200-day moving average price of $15.27. NOW has a one year low of $11.31 and a one year high of $23.53. The firm’s market capitalization is $1.43 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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