NOW (DNOW) PT Lowered to $18.00

NOW (NYSE:DNOW) had its price objective decreased by investment analysts at KeyCorp from $22.00 to $18.00 in a research note issued on Thursday. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. KeyCorp’s target price would indicate a potential upside of 83.11% from the company’s current price. KeyCorp also issued estimates for NOW’s FY2019 earnings at $0.56 EPS.

Several other research analysts have also recently commented on the company. Zacks Investment Research cut NOW from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Credit Suisse Group lowered their target price on NOW from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. BidaskClub cut NOW from a “sell” rating to a “strong sell” rating in a research note on Friday, November 10th. Citigroup cut NOW from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $19.00 to $11.00 in a research report on Thursday, November 2nd. They noted that the move was a valuation call. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $13.00 price objective on shares of NOW in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.10.

Shares of NOW (NYSE:DNOW) traded up $0.03 during midday trading on Thursday, hitting $9.83. The stock had a trading volume of 561,345 shares, compared to its average volume of 1,556,575. NOW has a twelve month low of $9.12 and a twelve month high of $21.32. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.72 and a quick ratio of 1.39. The firm has a market capitalization of $1,051.08, a PE ratio of -8.85 and a beta of 0.80.

NOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, February 14th. The oil and gas company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.08. NOW had a negative return on equity of 5.17% and a negative net margin of 4.77%. The business had revenue of $669.00 million during the quarter, compared to analysts’ expectations of $690.62 million. During the same period in the previous year, the firm posted ($0.29) earnings per share. The company’s revenue was up 24.3% on a year-over-year basis. analysts expect that NOW will post -0.34 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. raised its stake in NOW by 10.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 325,026 shares of the oil and gas company’s stock valued at $5,226,000 after acquiring an additional 30,581 shares during the last quarter. Thrivent Financial For Lutherans raised its stake in NOW by 8.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 21,880 shares of the oil and gas company’s stock valued at $352,000 after acquiring an additional 1,700 shares during the last quarter. Northern Trust Corp raised its stake in NOW by 0.9% during the 2nd quarter. Northern Trust Corp now owns 1,717,102 shares of the oil and gas company’s stock valued at $27,610,000 after acquiring an additional 15,906 shares during the last quarter. Vanguard Group Inc. raised its stake in NOW by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 8,936,076 shares of the oil and gas company’s stock valued at $143,693,000 after acquiring an additional 148,959 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in NOW by 14.0% during the 2nd quarter. Voya Investment Management LLC now owns 48,223 shares of the oil and gas company’s stock valued at $775,000 after acquiring an additional 5,935 shares during the last quarter.

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About NOW

NOW Inc (NOW) is a global distributor to the oil and gas and industrial markets. The Company operates under the DistributionNOW and Wilson Export brands. Its segments include the United States, Canada and International. As of December 31, 2016, its segments, the United States, Canada and International, had over 200, 55 and 35 locations, respectively.

Analyst Recommendations for NOW (NYSE:DNOW)

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