NOW Inc (NYSE:DNOW) – Research analysts at Seaport Global Securities increased their Q1 2018 earnings per share estimates for shares of NOW in a research note issued on Thursday, Zacks Investment Research reports. Seaport Global Securities analyst W. Liptak now expects that the oil and gas company will post earnings per share of $0.01 for the quarter, up from their prior estimate of ($0.04). Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for NOW’s Q3 2018 earnings at $0.07 EPS and Q1 2019 earnings at $0.16 EPS.
NOW (NYSE:DNOW) last released its quarterly earnings data on Wednesday, February 14th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.08. The firm had revenue of $669.00 million for the quarter, compared to analyst estimates of $690.62 million. NOW had a negative return on equity of 2.46% and a negative net margin of 1.96%. The business’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.29) earnings per share.
A number of other equities analysts have also weighed in on the company. Credit Suisse Group reiterated a “neutral” rating and set a $10.00 target price (down previously from $12.00) on shares of NOW in a research note on Tuesday, February 27th. Robert W. Baird reiterated a “neutral” rating on shares of NOW in a research note on Thursday, February 15th. Stephens set a $13.00 target price on NOW and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Susquehanna Bancshares set a $10.00 target price on NOW and gave the stock a “hold” rating in a research note on Thursday, February 15th. Finally, JPMorgan Chase & Co. lowered their target price on NOW from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $12.50.
Shares of NOW (NYSE:DNOW) traded down $0.07 during midday trading on Monday, hitting $10.68. The stock had a trading volume of 774,224 shares, compared to its average volume of 1,730,000. The company has a market capitalization of $1,150.00, a price-to-earnings ratio of -22.25 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.37 and a current ratio of 2.87. NOW has a one year low of $9.12 and a one year high of $18.37.
In related news, CEO Robert R. Workman purchased 28,550 shares of NOW stock in a transaction that occurred on Tuesday, March 6th. The shares were acquired at an average price of $10.51 per share, with a total value of $300,060.50. Following the completion of the transaction, the chief executive officer now directly owns 583,616 shares of the company’s stock, valued at approximately $6,133,804.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.50% of the company’s stock.
A number of large investors have recently modified their holdings of DNOW. Ameriprise Financial Inc. raised its position in shares of NOW by 10.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 325,026 shares of the oil and gas company’s stock worth $5,226,000 after acquiring an additional 30,581 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of NOW by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 8,936,076 shares of the oil and gas company’s stock valued at $143,693,000 after buying an additional 148,959 shares during the period. Voya Investment Management LLC grew its stake in shares of NOW by 14.0% in the 2nd quarter. Voya Investment Management LLC now owns 48,223 shares of the oil and gas company’s stock valued at $775,000 after buying an additional 5,935 shares during the period. HighTower Advisors LLC acquired a new stake in shares of NOW in the 2nd quarter valued at about $170,000. Finally, Royal Bank of Canada grew its stake in shares of NOW by 91.1% in the 2nd quarter. Royal Bank of Canada now owns 100,979 shares of the oil and gas company’s stock valued at $1,624,000 after buying an additional 48,129 shares during the period.
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NOW Inc (NOW) is a global distributor to the oil and gas and industrial markets. The Company operates under the DistributionNOW and Wilson Export brands. Its segments include the United States, Canada and International. As of December 31, 2016, its segments, the United States, Canada and International, had over 200, 55 and 35 locations, respectively.
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