NOW Inc (NYSE:DNOW) – KeyCorp reduced their FY2019 earnings estimates for shares of NOW in a research report issued to clients and investors on Wednesday, November 6th. KeyCorp analyst S. Barger now forecasts that the oil and gas company will post earnings per share of $0.31 for the year, down from their previous forecast of $0.43. KeyCorp also issued estimates for NOW’s Q1 2020 earnings at $0.13 EPS, Q2 2020 earnings at $0.14 EPS, Q3 2020 earnings at $0.14 EPS, Q4 2020 earnings at $0.07 EPS, FY2020 earnings at $0.48 EPS and FY2021 earnings at $0.59 EPS.
NOW (NYSE:DNOW) last posted its earnings results on Wednesday, November 6th. The oil and gas company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The business had revenue of $751.00 million for the quarter, compared to analyst estimates of $764.07 million. NOW had a net margin of 2.16% and a return on equity of 4.13%. The business’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 EPS.
Several other equities analysts have also weighed in on DNOW. ValuEngine upgraded shares of NOW from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Capital One Financial upgraded shares of NOW from an “equal weight” rating to an “overweight” rating and set a $16.00 target price on the stock in a report on Friday, August 2nd. Cowen restated a “market perform” rating and set a $10.00 target price (down previously from $11.00) on shares of NOW in a report on Monday, August 5th. Zacks Investment Research upgraded shares of NOW from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus reduced their target price on shares of NOW from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $13.25.
Shares of NYSE:DNOW traded down $0.12 during midday trading on Friday, hitting $12.35. 692,735 shares of the company’s stock traded hands, compared to its average volume of 765,779. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.28 and a current ratio of 2.55. The company has a market cap of $1.21 billion, a PE ratio of 34.29 and a beta of 1.38. The firm’s fifty day moving average price is $11.00 and its two-hundred day moving average price is $12.67. NOW has a twelve month low of $10.00 and a twelve month high of $15.93.
Several large investors have recently bought and sold shares of DNOW. Systematic Financial Management LP acquired a new position in NOW in the 3rd quarter worth $536,000. Massachusetts Financial Services Co. MA lifted its holdings in NOW by 4.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,370,778 shares of the oil and gas company’s stock worth $73,074,000 after buying an additional 248,068 shares in the last quarter. SG Americas Securities LLC lifted its holdings in NOW by 24.2% in the 3rd quarter. SG Americas Securities LLC now owns 163,847 shares of the oil and gas company’s stock worth $1,879,000 after buying an additional 31,881 shares in the last quarter. First Trust Advisors LP lifted its holdings in NOW by 51.5% in the 3rd quarter. First Trust Advisors LP now owns 93,582 shares of the oil and gas company’s stock worth $1,073,000 after buying an additional 31,816 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in NOW by 19.4% in the 3rd quarter. California Public Employees Retirement System now owns 300,356 shares of the oil and gas company’s stock worth $3,445,000 after buying an additional 48,751 shares in the last quarter.
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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