NOW Inc (DNOW) Expected to Announce Quarterly Sales of $807.72 Million

Wall Street analysts expect that NOW Inc (NYSE:DNOW) will announce $807.72 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for NOW’s earnings, with estimates ranging from $800.08 million to $813.90 million. NOW posted sales of $697.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 15.9%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, November 1st.

According to Zacks, analysts expect that NOW will report full year sales of $3.13 billion for the current fiscal year, with estimates ranging from $3.09 billion to $3.15 billion. For the next fiscal year, analysts expect that the business will report sales of $3.43 billion, with estimates ranging from $3.28 billion to $3.57 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for NOW.

NOW (NYSE:DNOW) last released its earnings results on Thursday, August 2nd. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.07. The business had revenue of $777.00 million for the quarter, compared to analyst estimates of $761.78 million. NOW had a return on equity of 0.76% and a net margin of 0.14%. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) earnings per share.

A number of research firms have recently issued reports on DNOW. Cowen began coverage on NOW in a report on Saturday, October 13th. They issued a “hold” rating and a $17.00 target price on the stock. Zacks Investment Research raised NOW from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Tuesday, October 9th. ValuEngine lowered NOW from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Susquehanna Bancshares set a $16.00 target price on NOW and gave the company a “hold” rating in a report on Friday, August 3rd. Finally, Robert W. Baird reissued a “hold” rating and issued a $17.00 target price on shares of NOW in a report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. NOW has a consensus rating of “Hold” and an average target price of $15.10.

Shares of NYSE:DNOW traded down $0.63 during trading on Friday, reaching $14.99. The company had a trading volume of 1,287,259 shares, compared to its average volume of 1,342,951. The firm has a market cap of $1.72 billion, a P/E ratio of -57.85 and a beta of 1.06. The company has a current ratio of 2.89, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. NOW has a fifty-two week low of $9.12 and a fifty-two week high of $18.56.

A number of hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. grew its holdings in NOW by 6.5% during the second quarter. Baillie Gifford & Co. now owns 14,343,559 shares of the oil and gas company’s stock worth $191,199,000 after acquiring an additional 880,642 shares during the period. BlackRock Inc. grew its holdings in NOW by 3.8% during the second quarter. BlackRock Inc. now owns 11,741,100 shares of the oil and gas company’s stock worth $156,509,000 after acquiring an additional 425,281 shares during the period. Dimensional Fund Advisors LP grew its holdings in NOW by 20.3% during the second quarter. Dimensional Fund Advisors LP now owns 6,636,170 shares of the oil and gas company’s stock worth $88,460,000 after acquiring an additional 1,122,053 shares during the period. Hennessy Advisors Inc. acquired a new position in NOW during the third quarter worth $27,284,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in NOW by 11.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,598,846 shares of the oil and gas company’s stock worth $21,313,000 after acquiring an additional 162,625 shares during the period.

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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