NOW Inc (DNOW) Expected to Announce Earnings of $0.11 Per Share

Equities analysts forecast that NOW Inc (NYSE:DNOW) will announce earnings per share of $0.11 for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for NOW’s earnings. The highest EPS estimate is $0.13 and the lowest is $0.10. NOW posted earnings per share of ($0.03) in the same quarter last year, which suggests a positive year-over-year growth rate of 466.7%. The company is expected to announce its next earnings results before the market opens on Thursday, November 1st.

On average, analysts expect that NOW will report full-year earnings of $0.31 per share for the current financial year, with EPS estimates ranging from $0.23 to $0.37. For the next year, analysts expect that the business will report earnings of $0.62 per share, with EPS estimates ranging from $0.40 to $0.80. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for NOW.

NOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, August 2nd. The oil and gas company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.07. NOW had a net margin of 0.14% and a return on equity of 0.76%. The business had revenue of $777.00 million during the quarter, compared to analysts’ expectations of $761.78 million. During the same period last year, the company posted ($0.10) EPS. The company’s revenue was up 19.4% on a year-over-year basis.

A number of research analysts have recently weighed in on DNOW shares. Stifel Nicolaus raised their price objective on shares of NOW from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Susquehanna Bancshares set a $16.00 price objective on shares of NOW and gave the stock a “hold” rating in a research note on Friday, August 3rd. Zacks Investment Research cut shares of NOW from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. ValuEngine raised shares of NOW from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, Cowen began coverage on shares of NOW in a research note on Saturday. They issued a “hold” rating and a $17.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $15.10.

Shares of DNOW traded down $0.53 during mid-day trading on Friday, reaching $15.88. 67,087 shares of the company’s stock were exchanged, compared to its average volume of 1,346,105. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.89 and a quick ratio of 1.45. NOW has a 52-week low of $9.12 and a 52-week high of $18.56. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -59.07 and a beta of 1.06.

A number of hedge funds have recently added to or reduced their stakes in DNOW. Icon Wealth Partners LLC acquired a new position in shares of NOW in the 2nd quarter valued at $105,000. NumerixS Investment Technologies Inc acquired a new position in shares of NOW in the 2nd quarter valued at $120,000. Neuburgh Advisers LLC boosted its holdings in shares of NOW by 51.7% in the 2nd quarter. Neuburgh Advisers LLC now owns 10,560 shares of the oil and gas company’s stock valued at $141,000 after purchasing an additional 3,600 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of NOW in the 2nd quarter valued at $146,000. Finally, Glen Harbor Capital Management LLC boosted its holdings in shares of NOW by 51.7% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 14,520 shares of the oil and gas company’s stock valued at $194,000 after purchasing an additional 4,950 shares during 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, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.

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