Zacks: Brokerages Expect NOW Inc. (NYSE:DNOW) Will Post Quarterly Sales of $420.60 Million

Brokerages expect NOW Inc. (NYSE:DNOW) to post $420.60 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for NOW’s earnings, with the lowest sales estimate coming in at $409.70 million and the highest estimate coming in at $429.00 million. NOW posted sales of $326.00 million in the same quarter last year, which suggests a positive year over year growth rate of 29%. The business is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, November 3rd.

According to Zacks, analysts expect that NOW will report full year sales of $1.59 billion for the current year, with estimates ranging from $1.55 billion to $1.61 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.80 billion, with estimates ranging from $1.74 billion to $1.83 billion. Zacks’ sales averages are an average based on a survey of analysts that cover NOW.

A number of research firms recently weighed in on DNOW. Zacks Investment Research lowered shares of NOW from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus raised shares of NOW from a “hold” rating to a “buy” rating and raised their target price for the stock from $11.00 to $12.00 in a report on Friday, July 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.85.

Shares of NYSE DNOW traded down $0.06 during mid-day trading on Monday, hitting $9.01. 8,740 shares of the company’s stock traded hands, compared to its average volume of 847,060. The company’s 50-day moving average is $7.67 and its two-hundred day moving average is $9.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.44 and a quick ratio of 1.70. The company has a market capitalization of $996.15 million, a P/E ratio of -12.68 and a beta of 2.02. NOW has a 1 year low of $4.03 and a 1 year high of $11.98.

In other news, CEO David A. Cherechinsky acquired 14,000 shares of the company’s stock in a transaction dated Monday, August 16th. The shares were bought at an average price of $7.44 per share, for a total transaction of $104,160.00. Following the completion of the purchase, the chief executive officer now directly owns 245,876 shares of the company’s stock, valued at approximately $1,829,317.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Eaton Vance Management bought a new stake in shares of NOW in the 1st quarter valued at approximately $51,000. Coldstream Capital Management Inc. acquired a new stake in shares of NOW during the first quarter worth about $101,000. Caxton Associates LP bought a new position in NOW in the second quarter valued at approximately $106,000. Sciencast Management LP acquired a new stake in NOW during the 1st quarter worth approximately $108,000. Finally, Pinz Capital Management LP acquired a new position in shares of NOW during the 2nd quarter worth $108,000. Hedge funds and other institutional investors own 92.29% of the company’s stock.

NOW Company Profile

NOW, Inc is a holding company, which engages in the distribution of energy products for industrial applications. It operates through the following segments: United States, Canada, and International. The United States segment serves the upstream, midstream and downstream energy, and industrial markets.

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Earnings History and Estimates for NOW (NYSE:DNOW)

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