$768.37 Million in Sales Expected for NOW Inc (DNOW) This Quarter

Wall Street brokerages predict that NOW Inc (NYSE:DNOW) will report sales of $768.37 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for NOW’s earnings, with the lowest sales estimate coming in at $758.70 million and the highest estimate coming in at $774.30 million. NOW reported sales of $777.00 million in the same quarter last year, which indicates a negative year over year growth rate of 1.1%. The company is scheduled to report its next quarterly earnings results before the market opens on Friday, August 2nd.

On average, analysts expect that NOW will report full-year sales of $3.13 billion for the current fiscal year, with estimates ranging from $3.10 billion to $3.15 billion. For the next financial year, analysts expect that the business will report sales of $3.31 billion, with estimates ranging from $3.21 billion to $3.36 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover NOW.

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

Shares of NYSE:DNOW traded down $0.02 during mid-day trading on Monday, hitting $13.61. The stock had a trading volume of 13,205 shares, compared to its average volume of 559,884. NOW has a 12-month low of $10.36 and a 12-month high of $18.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.30 and a current ratio of 2.64. The company has a market cap of $1.48 billion, a PE ratio of 37.40 and a beta of 1.40.

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in NOW by 91.3% in the third quarter. JPMorgan Chase & Co. now owns 670,933 shares of the oil and gas company’s stock worth $11,103,000 after acquiring an additional 320,212 shares during the period. AQR Capital Management LLC purchased a new position in NOW in the third quarter worth approximately $171,000. Arizona State Retirement System grew its position in NOW by 1.1% in the fourth quarter. Arizona State Retirement System now owns 77,818 shares of the oil and gas company’s stock worth $906,000 after acquiring an additional 855 shares during the period. Pendal Group Ltd purchased a new position in NOW in the fourth quarter worth approximately $817,000. Finally, Xact Kapitalforvaltning AB grew its position in NOW by 13.1% in the fourth quarter. Xact Kapitalforvaltning AB now owns 25,090 shares of the oil and gas company’s stock worth $292,000 after acquiring an additional 2,900 shares during the period.

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.

Recommended Story: Why do company’s buyback their stock?

Get a free copy of the Zacks research report on NOW (DNOW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for NOW (NYSE:DNOW)

Receive News & Ratings for NOW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NOW and related companies with MarketBeat.com's FREE daily email newsletter.