Zacks: Brokerages Anticipate NOW Inc. (NYSE:DNOW) Will Post Quarterly Sales of $420.97 Million

Brokerages expect NOW Inc. (NYSE:DNOW) to post $420.97 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for NOW’s earnings. The highest sales estimate is $425.30 million and the lowest is $417.40 million. NOW posted sales of $319.00 million in the same quarter last year, which suggests a positive year over year growth rate of 32%. The firm is scheduled to report its next earnings results on Wednesday, February 16th.

According to Zacks, analysts expect that NOW will report full year sales of $1.62 billion for the current year, with estimates ranging from $1.61 billion to $1.63 billion. For the next year, analysts anticipate that the business will report sales of $1.85 billion, with estimates ranging from $1.83 billion to $1.88 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover NOW.

NOW (NYSE:DNOW) last released its quarterly earnings results on Wednesday, November 3rd. The oil and gas company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The company had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $422.80 million. NOW had a negative net margin of 3.36% and a negative return on equity of 3.88%. The business’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.16) earnings per share.

DNOW has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of NOW from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Monday, November 8th. Stephens upgraded shares of NOW from an “equal weight” rating to an “overweight” rating and set a $12.00 target price for the company in a report on Thursday, November 4th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $10.50.

Shares of NOW stock traded down $0.03 on Thursday, hitting $9.70. The company had a trading volume of 990,016 shares, compared to its average volume of 1,034,498. The firm has a market capitalization of $1.07 billion, a P/E ratio of -21.09 and a beta of 1.97. NOW has a twelve month low of $5.44 and a twelve month high of $11.98. The stock has a 50-day moving average of $8.40 and a 200-day moving average of $8.99.

A number of hedge funds and other institutional investors have recently bought and sold shares of DNOW. Eaton Vance Management bought a new stake in NOW during the first quarter worth $51,000. Macquarie Group Ltd. raised its position in shares of NOW by 306.0% in the third quarter. Macquarie Group Ltd. now owns 8,060 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 6,075 shares during the period. Quadrature Capital Ltd bought a new position in shares of NOW in the third quarter valued at about $100,000. Coldstream Capital Management Inc. bought a new position in shares of NOW in the first quarter valued at about $101,000. Finally, Citizens Financial Group Inc RI bought a new position in shares of NOW in the third quarter valued at about $105,000. 92.28% of the stock is currently owned by hedge funds and other institutional investors.

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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