NOW Inc (NYSE:DNOW) – Stock analysts at Seaport Global Securities dropped their FY2019 EPS estimates for shares of NOW in a research note issued on Wednesday, November 6th. Seaport Global Securities analyst W. Liptak now forecasts that the oil and gas company will post earnings per share of $0.32 for the year, down from their prior estimate of $0.34. Seaport Global Securities also issued estimates for NOW’s Q4 2019 earnings at $0.03 EPS, Q1 2020 earnings at $0.09 EPS and Q2 2020 earnings at $0.08 EPS.
NOW (NYSE:DNOW) last posted its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The firm had revenue of $751.00 million for the quarter, compared to the consensus estimate of $764.07 million. NOW had a return on equity of 4.13% and a net margin of 2.16%. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 earnings per share.
A number of other equities analysts have also recently issued reports on the company. ValuEngine upgraded NOW from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Cowen restated a “market perform” rating and set a $10.00 price objective (down previously from $11.00) on shares of NOW in a report on Monday, August 5th. Zacks Investment Research raised NOW from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Stifel Nicolaus decreased their target price on NOW from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, July 15th. Finally, Capital One Financial raised NOW from an “equal weight” rating to an “overweight” rating and set a $16.00 target price for the company in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $13.25.
Shares of NOW stock traded down $0.12 on Friday, reaching $12.35. The company had a trading volume of 692,735 shares, compared to its average volume of 765,779. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 34.29 and a beta of 1.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.55 and a quick ratio of 1.28. The firm’s 50-day moving average price is $11.00 and its two-hundred day moving average price is $12.67. NOW has a 1 year low of $10.00 and a 1 year high of $15.93.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Investors Research Corp boosted its holdings in NOW by 61.6% in the 2nd quarter. Investors Research Corp now owns 2,362 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 900 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of NOW during the 2nd quarter worth approximately $99,000. Dupont Capital Management Corp raised its position in shares of NOW by 34.5% during the 2nd quarter. Dupont Capital Management Corp now owns 11,700 shares of the oil and gas company’s stock worth $173,000 after purchasing an additional 3,000 shares during the last quarter. CWM Advisors LLC raised its position in shares of NOW by 8.2% during the 2nd quarter. CWM Advisors LLC now owns 12,075 shares of the oil and gas company’s stock worth $178,000 after purchasing an additional 915 shares during the last quarter. Finally, Convergence Investment Partners LLC acquired a new position in shares of NOW during the 2nd quarter worth approximately $207,000.
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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