Zacks: Analysts Expect NOW Inc (NYSE:DNOW) to Post $0.01 Earnings Per Share

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Wall Street analysts forecast that NOW Inc (NYSE:DNOW) will post earnings per share of $0.01 for the current quarter, Zacks reports. Six analysts have made estimates for NOW’s earnings, with the highest EPS estimate coming in at $0.03 and the lowest estimate coming in at ($0.01). NOW posted earnings of $0.11 per share during the same quarter last year, which suggests a negative year over year growth rate of 90.9%. The firm is scheduled to report its next earnings report on Thursday, February 13th.

According to Zacks, analysts expect that NOW will report full year earnings of $0.31 per share for the current year, with EPS estimates ranging from $0.27 to $0.36. For the next fiscal year, analysts forecast that the firm will post earnings of $0.39 per share, with EPS estimates ranging from $0.26 to $0.48. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for NOW.

NOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.02. The business had revenue of $751.00 million for the quarter, compared to analyst estimates of $764.07 million. NOW had a return on equity of 4.13% and a net margin of 2.16%. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS.

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

Shares of NYSE DNOW traded up $0.01 during mid-day trading on Thursday, reaching $12.47. 1,051,652 shares of the company traded hands, compared to its average volume of 786,691. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.28 and a current ratio of 2.55. The stock has a market cap of $1.21 billion, a PE ratio of 34.64 and a beta of 1.38. The company’s fifty day moving average is $11.01 and its two-hundred day moving average is $12.65. NOW has a fifty-two week low of $10.00 and a fifty-two week high of $15.93.

A number of large investors have recently made changes to their positions in the stock. Investors Research Corp grew its position in shares of 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 buying an additional 900 shares during the last quarter. CWM Advisors LLC lifted its position in NOW by 8.2% in the second quarter. CWM Advisors LLC now owns 12,075 shares of the oil and gas company’s stock valued at $178,000 after buying an additional 915 shares during the last quarter. Arizona State Retirement System lifted its position in NOW by 1.3% in the second quarter. Arizona State Retirement System now owns 78,906 shares of the oil and gas company’s stock valued at $1,165,000 after buying an additional 1,040 shares during the last quarter. Dupont Capital Management Corp lifted its position in NOW by 10.2% in the third quarter. Dupont Capital Management Corp now owns 12,897 shares of the oil and gas company’s stock valued at $148,000 after buying an additional 1,197 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of NOW by 1.3% during the second quarter. Morgan Stanley now owns 165,993 shares of the oil and gas company’s stock worth $2,450,000 after purchasing an additional 2,195 shares in the last quarter.

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.

Further Reading: Market Capitalization – What it Means for Investors

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Earnings History and Estimates for NOW (NYSE:DNOW)

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