According to Zacks, “NOW Inc. is a distributor to the energy and industrial sectors. It stocks and sells a comprehensive offering of products for the upstream, midstream, and downstream & industrial market segments. The Company offers stock keeping units, including pipe, valves and valve automation, fittings, instrumentation, mill and industrial supplies, tools, safety supplies, electrical products, drilling and production equipment, fabricated equipment, and industrial paints and coatings. NOW also provides supply chain management solutions to energy and industrial manufacturing companies around the world. It operates primarily under the DistributionNOW and Wilson Export brands. NOW Inc. is headquartered in Houston, Texas. “
Several other analysts have also recently issued reports on DNOW. Stifel Nicolaus lowered their price objective on shares of NOW from $15.00 to $14.00 and set a hold rating for the company in a research note on Monday, July 15th. Capital One Financial raised shares of NOW from an equal weight rating to an overweight rating and set a $16.00 price objective for the company in a research note on Friday, August 2nd. Cowen reissued a market perform rating and set a $10.00 price objective (down from $11.00) on shares of NOW in a research note on Monday, August 5th. Finally, ValuEngine cut shares of NOW from a hold rating to a sell rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $13.80.
NOW (NYSE:DNOW) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.09. NOW had a net margin of 2.16% and a return on equity of 4.13%. The company had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $767.19 million. During the same period in the previous year, the company earned $0.10 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. Research analysts forecast that NOW will post 0.38 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in DNOW. FMR LLC lifted its holdings in shares of NOW by 54.3% during the 4th quarter. FMR LLC now owns 2,199 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 774 shares in the last quarter. Investors Research Corp lifted its holdings in shares of NOW by 61.6% during the 2nd quarter. Investors Research Corp now owns 2,362 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 900 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of NOW during the 1st quarter valued at $66,000. Icon Wealth Partners LLC acquired a new position in NOW in the 1st quarter worth $91,000. Finally, Point72 Hong Kong Ltd acquired a new position in NOW in the 2nd quarter worth $99,000.
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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