Seaport Global Securities Equities Analysts Boost Earnings Estimates for NOW Inc (NYSE:DNOW)

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NOW Inc (NYSE:DNOW) – Investment analysts at Seaport Global Securities boosted their Q3 2020 earnings per share (EPS) estimates for NOW in a research report issued to clients and investors on Wednesday, November 6th. Seaport Global Securities analyst W. Liptak now anticipates that the oil and gas company will post earnings per share of $0.15 for the quarter, up from their prior estimate of $0.10. Seaport Global Securities also issued estimates for NOW’s Q4 2020 earnings at $0.14 EPS and FY2020 earnings at $0.47 EPS.

NOW (NYSE:DNOW) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. NOW had a return on equity of 3.45% and a net margin of 1.89%. The business had revenue of $751.00 million for the quarter, compared to the consensus estimate of $764.07 million. During the same quarter in the prior year, the business posted $0.15 EPS. The business’s revenue for the quarter was down 8.6% on a year-over-year basis.

A number of other research analysts also recently commented on DNOW. Capital One Financial upgraded NOW from an “equal weight” rating to an “overweight” rating and set a $16.00 price objective on the stock in a report on Friday, August 2nd. ValuEngine upgraded NOW from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Cowen reiterated 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. Finally, Zacks Investment Research upgraded NOW from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. NOW presently has a consensus rating of “Hold” and an average price target of $13.25.

Shares of DNOW traded down $0.23 during mid-day trading on Monday, reaching $12.07. The company’s stock had a trading volume of 998,552 shares, compared to its average volume of 789,304. NOW has a 12-month low of $10.00 and a 12-month high of $15.93. The stock has a market cap of $1.33 billion, a PE ratio of 33.53 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.44 and a quick ratio of 1.28. The company’s 50 day moving average is $11.02 and its 200 day moving average is $12.59.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP bought a new position in NOW in the 1st quarter worth approximately $913,000. Investors Research Corp boosted its stake in NOW by 61.6% in the 2nd quarter. Investors Research Corp now owns 2,362 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 900 shares during the period. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV boosted its stake in NOW by 14.4% in the 2nd quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 199,000 shares of the oil and gas company’s stock worth $2,937,000 after purchasing an additional 25,000 shares during the period. Marathon Asset Management LLP boosted its stake in NOW by 34.2% in the 2nd quarter. Marathon Asset Management LLP now owns 1,133,661 shares of the oil and gas company’s stock worth $16,732,000 after purchasing an additional 289,033 shares during the period. Finally, CWM Advisors LLC boosted its stake in NOW by 8.2% in the 2nd quarter. CWM Advisors LLC now owns 12,075 shares of the oil and gas company’s stock worth $178,000 after purchasing an additional 915 shares during the period.

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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