$725.49 Million in Sales Expected for NOW Inc (NYSE:DNOW) This Quarter

Wall Street brokerages forecast that NOW Inc (NYSE:DNOW) will post sales of $725.49 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for NOW’s earnings, with the highest sales estimate coming in at $743.30 million and the lowest estimate coming in at $699.00 million. NOW posted sales of $764.00 million in the same quarter last year, which suggests a negative year-over-year growth rate of 5%. The business is scheduled to issue its next quarterly earnings results on Thursday, February 13th.

According to Zacks, analysts expect that NOW will report full year sales of $3.01 billion for the current year, with estimates ranging from $2.97 billion to $3.07 billion. For the next year, analysts anticipate that the company will post sales of $3.00 billion, with estimates ranging from $2.90 billion to $3.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover NOW.

NOW (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The company had revenue of $751.00 million during the quarter, compared to analysts’ expectations of $764.07 million. NOW had a return on equity of 4.13% and a net margin of 2.16%. NOW’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS.

Several brokerages have recently weighed in on DNOW. Capital One Financial upgraded NOW from an “equal weight” rating to an “overweight” rating and set a $16.00 price objective for the company in a report on Friday, August 2nd. Cowen restated a “market perform” rating and issued a $10.00 price objective (down previously from $11.00) on shares of NOW in a report on Monday, August 5th. Zacks Investment Research upgraded NOW from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Stifel Nicolaus decreased their price objective on NOW from $15.00 to $14.00 and set a “hold” rating for the company in a report on Monday, July 15th. Finally, ValuEngine upgraded NOW from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.25.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. grew its holdings in shares of NOW by 6.9% in the 2nd quarter. Baillie Gifford & Co. now owns 16,516,800 shares of the oil and gas company’s stock valued at $243,788,000 after acquiring an additional 1,064,031 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in NOW by 4.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,370,778 shares of the oil and gas company’s stock valued at $73,074,000 after purchasing an additional 248,068 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in NOW by 15.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,112,701 shares of the oil and gas company’s stock valued at $30,317,000 after purchasing an additional 287,223 shares during the last quarter. Northern Trust Corp lifted its stake in NOW by 2.6% in the 2nd quarter. Northern Trust Corp now owns 1,708,501 shares of the oil and gas company’s stock valued at $25,217,000 after purchasing an additional 42,698 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in NOW by 8.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,287,400 shares of the oil and gas company’s stock valued at $19,000,000 after purchasing an additional 97,256 shares during the last quarter.

Shares of NYSE DNOW opened at $12.47 on Friday. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 34.64 and a beta of 1.38. The business has a 50-day moving average of $11.01 and a 200-day moving average of $12.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.55 and a quick ratio of 1.28. NOW has a fifty-two week low of $10.00 and a fifty-two week high of $15.93.

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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