NOW Inc (NYSE:DNOW) – Research analysts at KeyCorp cut their FY2019 earnings estimates for shares of NOW in a note issued to investors on Wednesday, November 6th. KeyCorp analyst S. Barger now anticipates that the oil and gas company will earn $0.31 per share for the year, down from their prior estimate of $0.43. KeyCorp also issued estimates for NOW’s Q1 2020 earnings at $0.13 EPS, Q2 2020 earnings at $0.14 EPS, Q3 2020 earnings at $0.14 EPS, Q4 2020 earnings at $0.07 EPS, FY2020 earnings at $0.48 EPS and FY2021 earnings at $0.59 EPS.
DNOW has been the subject of several other research reports. Capital One Financial raised shares of NOW from an “equal weight” rating to an “overweight” rating and set a $16.00 price objective for the company in a research report on Friday, August 2nd. ValuEngine raised shares of NOW from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus cut their price objective on shares of NOW from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, July 15th. Zacks Investment Research raised shares of NOW from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Cowen reaffirmed a “market perform” rating and set a $10.00 price objective (down previously from $11.00) on shares of NOW in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $13.25.
NOW (NYSE:DNOW) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. NOW had a net margin of 2.16% and a return on equity of 4.13%. The business had revenue of $751.00 million for the quarter, compared to the consensus estimate of $764.07 million. During the same period in the prior year, the company posted $0.15 earnings per share. NOW’s revenue was down 8.6% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Fund Management S.A. bought a new position in shares of NOW in the second quarter worth about $297,000. Nuveen Asset Management LLC bought a new position in shares of NOW in the second quarter worth about $6,975,000. Alpha Windward LLC bought a new position in shares of NOW in the second quarter worth about $404,000. JPMorgan Chase & Co. lifted its holdings in shares of NOW by 15.7% in the second quarter. JPMorgan Chase & Co. now owns 2,112,701 shares of the oil and gas company’s stock worth $30,317,000 after acquiring an additional 287,223 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of NOW by 7.0% in the second quarter. UBS Asset Management Americas Inc. now owns 101,674 shares of the oil and gas company’s stock worth $1,501,000 after acquiring an additional 6,616 shares during the last quarter.
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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