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. “
A number of other research analysts have also commented on DNOW. Stifel Nicolaus cut their price target on NOW from $15.00 to $14.00 and set a hold rating for the company in a report on Monday, July 15th. Cowen reiterated a market perform rating and set a $10.00 price target (down from $11.00) on shares of NOW in a report on Monday, August 5th. ValuEngine lowered NOW from a hold rating to a sell rating in a report on Tuesday, July 16th. Finally, Capital One Financial upgraded NOW from an equal weight rating to an overweight rating and set a $16.00 price target for the company in a report on Friday, August 2nd. One equities research 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 a consensus rating of Hold and an average target price of $13.80.
Shares of DNOW stock opened at $11.77 on Tuesday. NOW has a 12 month low of $10.36 and a 12 month high of $17.58. The firm has a market cap of $1.30 billion, a PE ratio of 32.69 and a beta of 1.41. The stock has a 50 day moving average of $12.68 and a 200-day moving average of $13.89. The company has a quick ratio of 1.28, a current ratio of 2.55 and a debt-to-equity ratio of 0.08.
NOW (NYSE:DNOW) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. NOW had a return on equity of 4.13% and a net margin of 2.16%. The company had revenue of $776.00 million during the quarter, compared to analyst estimates of $767.19 million. During the same period in the previous year, the company earned $0.10 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities analysts predict that NOW will post 0.38 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of DNOW. Baillie Gifford & Co. raised its stake in shares of NOW by 6.9% in the second quarter. Baillie Gifford & Co. now owns 16,516,800 shares of the oil and gas company’s stock valued at $243,788,000 after purchasing an additional 1,064,031 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of NOW by 12.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,670,835 shares of the oil and gas company’s stock valued at $100,928,000 after purchasing an additional 931,341 shares in the last quarter. Norges Bank acquired a new position in shares of NOW in the fourth quarter valued at $7,317,000. Nuveen Asset Management LLC acquired a new position in shares of NOW in the second quarter valued at $6,975,000. Finally, JPMorgan Chase & Co. raised its stake in shares of NOW by 32.7% in the first quarter. JPMorgan Chase & Co. now owns 1,825,478 shares of the oil and gas company’s stock valued at $25,483,000 after purchasing an additional 449,971 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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