-$0.22 Earnings Per Share Expected for NOW Inc (NYSE:DNOW) This Quarter

Wall Street analysts expect that NOW Inc (NYSE:DNOW) will announce earnings per share (EPS) of ($0.22) for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for NOW’s earnings, with the highest EPS estimate coming in at ($0.16) and the lowest estimate coming in at ($0.30). NOW posted earnings per share of $0.08 during the same quarter last year, which indicates a negative year-over-year growth rate of 375%. The company is scheduled to report its next quarterly earnings results before the market opens on Wednesday, November 4th.

On average, analysts expect that NOW will report full-year earnings of ($0.69) per share for the current fiscal year, with EPS estimates ranging from ($0.74) to ($0.60). For the next financial year, analysts anticipate that the business will report earnings of ($0.44) per share, with EPS estimates ranging from ($0.66) to ($0.17). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow NOW.

NOW (NYSE:DNOW) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.16. NOW had a negative return on equity of 2.34% and a negative net margin of 20.73%. The business had revenue of $370.00 million during the quarter, compared to the consensus estimate of $367.00 million. During the same quarter last year, the firm posted $0.09 EPS. The company’s quarterly revenue was down 52.3% on a year-over-year basis.

Separately, Northland Securities assumed coverage on NOW in a report on Friday, July 10th. They set a “buy” rating and a $9.50 price target for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. NOW has an average rating of “Buy” and an average target price of $10.13.

NOW stock traded down $0.16 during mid-day trading on Tuesday, hitting $4.87. 104,069 shares of the company’s stock traded hands, compared to its average volume of 1,345,162. The firm has a 50 day simple moving average of $7.05 and a two-hundred day simple moving average of $7.11. NOW has a fifty-two week low of $4.05 and a fifty-two week high of $12.74. The stock has a market cap of $550.18 million, a price-to-earnings ratio of -1.07 and a beta of 1.81.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Balyasny Asset Management LLC bought a new stake in shares of NOW during the first quarter worth about $53,000. Two Sigma Advisers LP grew its stake in NOW by 98.1% in the 1st quarter. Two Sigma Advisers LP now owns 375,400 shares of the oil and gas company’s stock valued at $1,937,000 after purchasing an additional 185,900 shares during the period. Bank of America Corp DE grew its stake in NOW by 23.6% in the 2nd quarter. Bank of America Corp DE now owns 1,218,206 shares of the oil and gas company’s stock valued at $10,513,000 after purchasing an additional 232,321 shares during the period. Vanguard Group Inc. grew its stake in NOW by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 10,695,304 shares of the oil and gas company’s stock valued at $92,300,000 after purchasing an additional 317,716 shares during the period. Finally, BNP Paribas Arbitrage SA grew its stake in NOW by 80.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 66,126 shares of the oil and gas company’s stock valued at $341,000 after purchasing an additional 29,382 shares during the period. 97.18% of the stock is owned by institutional investors.

NOW Company Profile

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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