Zacks: Analysts Anticipate NOW Inc (DNOW) Will Post Earnings of $0.09 Per Share

Wall Street brokerages predict that NOW Inc (NYSE:DNOW) will post $0.09 earnings per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for NOW’s earnings, with the lowest EPS estimate coming in at $0.07 and the highest estimate coming in at $0.10. NOW posted earnings of $0.10 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 10%. The business is scheduled to issue its next earnings report before the market opens on Friday, August 2nd.

According to Zacks, analysts expect that NOW will report full-year earnings of $0.42 per share for the current financial year, with EPS estimates ranging from $0.35 to $0.55. For the next year, analysts forecast that the firm will post earnings of $0.62 per share, with EPS estimates ranging from $0.50 to $0.70. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow NOW.

NOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $785.00 million during the quarter, compared to the consensus estimate of $772.54 million. NOW had a return on equity of 4.19% and a net margin of 2.16%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS.

Shares of NYSE:DNOW opened at $13.03 on Friday. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 36.19 and a beta of 1.40. The company has a quick ratio of 1.30, a current ratio of 2.64 and a debt-to-equity ratio of 0.13. NOW has a 1 year low of $10.36 and a 1 year high of $18.56.

Several hedge funds have recently bought and sold shares of the company. Clearbridge Investments LLC grew its stake in shares of NOW by 4.1% during the 1st quarter. Clearbridge Investments LLC now owns 9,467,335 shares of the oil and gas company’s stock worth $132,164,000 after acquiring an additional 375,350 shares during the period. BlueMountain Capital Management LLC bought a new position in shares of NOW during the 1st quarter worth $71,000. CWM Advisors LLC bought a new position in shares of NOW during the 1st quarter worth $156,000. Schonfeld Strategic Advisors LLC bought a new position in shares of NOW during the 1st quarter worth $140,000. Finally, Wellington Management Group LLP bought a new position in shares of NOW during the 1st quarter worth $849,000.

About NOW

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, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as applied products and applications, such as artificial lift systems, coatings, and other expendable items.

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Earnings History and Estimates for NOW (NYSE:DNOW)

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