NOW Inc (NYSE:DNOW) Receives Consensus Recommendation of “Hold” from Analysts

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NOW Inc (NYSE:DNOW) has been given a consensus rating of “Hold” by the seven research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $15.75.

A number of research analysts recently issued reports on the stock. ValuEngine raised shares of Vale from a “sell” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus set a $113.00 price objective on shares of Neurocrine Biosciences and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Zacks Investment Research cut shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday.

Large investors have recently made changes to their positions in the stock. Wakefield Asset Management LLLP increased its stake in NOW by 86.9% in the fourth quarter. Wakefield Asset Management LLLP now owns 27,882 shares of the oil and gas company’s stock valued at $325,000 after acquiring an additional 12,964 shares during the last quarter. Icon Wealth Partners LLC acquired a new stake in NOW in the first quarter valued at approximately $91,000. Millennium Management LLC boosted its position in NOW by 121.5% in the fourth quarter. Millennium Management LLC now owns 2,107,721 shares of the oil and gas company’s stock valued at $24,534,000 after buying an additional 1,156,110 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in NOW by 18.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,269 shares of the oil and gas company’s stock valued at $411,000 after buying an additional 5,486 shares in the last quarter. Finally, Norges Bank acquired a new stake in NOW in the fourth quarter valued at approximately $7,317,000.

Shares of DNOW traded up $0.06 during mid-day trading on Friday, hitting $12.04. 668,051 shares of the company’s stock were exchanged, compared to its average volume of 735,020. NOW has a 52 week low of $10.36 and a 52 week high of $18.56. The stock has a 50-day moving average of $13.74. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 33.44 and a beta of 1.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.30 and a current ratio of 2.64.

NOW (NYSE:DNOW) last announced its earnings results on Thursday, May 2nd. The oil and gas company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.03. The company had revenue of $785.00 million for the quarter, compared to analysts’ expectations of $772.54 million. NOW had a net margin of 2.16% and a return on equity of 4.19%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share. Sell-side analysts forecast that NOW will post 0.43 earnings per share for the current 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, 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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Analyst Recommendations for NOW (NYSE:DNOW)

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