Shares of NOW Inc (NYSE:DNOW) have received an average recommendation of “Hold” from the sixteen research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $14.44.
Several research firms recently commented on DNOW. Northcoast Research began coverage on shares of NOW in a research report on Tuesday, July 31st. They issued a “neutral” rating for the company. Cowen reiterated a “market perform” rating and issued a $11.00 price target (up previously from $9.00) on shares of NOW in a research report on Thursday, May 3rd. Robert W. Baird reiterated a “hold” rating and issued a $17.00 price target on shares of NOW in a research report on Friday, August 3rd. ValuEngine upgraded shares of NOW from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 2nd. Finally, Zacks Investment Research downgraded shares of NOW from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th.
Institutional investors have recently made changes to their positions in the business. Rice Hall James & Associates LLC acquired a new position in shares of NOW during the 2nd quarter worth $15,273,000. Dimensional Fund Advisors LP grew its stake in shares of NOW by 20.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,636,170 shares of the oil and gas company’s stock worth $88,460,000 after purchasing an additional 1,122,053 shares during the period. Baillie Gifford & Co. grew its stake in shares of NOW by 6.5% during the 2nd quarter. Baillie Gifford & Co. now owns 14,343,559 shares of the oil and gas company’s stock worth $191,199,000 after purchasing an additional 880,642 shares during the period. Bank of Montreal Can grew its stake in shares of NOW by 117.4% during the 2nd quarter. Bank of Montreal Can now owns 1,347,033 shares of the oil and gas company’s stock worth $17,956,000 after purchasing an additional 727,326 shares during the period. Finally, BlackRock Inc. grew its stake in shares of NOW by 3.8% during the 2nd quarter. BlackRock Inc. now owns 11,741,100 shares of the oil and gas company’s stock worth $156,509,000 after purchasing an additional 425,281 shares during the period.
NOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, August 2nd. The oil and gas company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.03 by $0.07. NOW had a net margin of 0.14% and a return on equity of 0.76%. The firm had revenue of $777.00 million during the quarter, compared to the consensus estimate of $761.78 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. NOW’s revenue for the quarter was up 19.4% on a year-over-year basis. equities research analysts predict that NOW will post 0.3 EPS for the current fiscal year.
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, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.
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