-$0.02 EPS Expected for NOW Inc. (DNOW) This Quarter

Equities analysts predict that NOW Inc. (NYSE:DNOW) will post ($0.02) earnings per share for the current quarter, Zacks reports. Six analysts have made estimates for NOW’s earnings. The highest EPS estimate is $0.05 and the lowest is ($0.05). NOW posted earnings of ($0.34) per share in the same quarter last year, which indicates a positive year over year growth rate of 94.1%. The business is scheduled to report its next quarterly earnings results on Wednesday, November 1st.

According to Zacks, analysts expect that NOW will report full-year earnings of ($0.24) per share for the current fiscal year, with EPS estimates ranging from ($0.33) to ($0.16). For the next year, analysts forecast that the firm will report earnings of $0.36 per share, with EPS estimates ranging from $0.17 to $0.55. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow NOW.

NOW (NYSE:DNOW) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). The firm had revenue of $651 million for the quarter, compared to the consensus estimate of $674.97 million. NOW had a negative return on equity of 7.83% and a negative net margin of 7.14%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.40) EPS.

DNOW has been the subject of several recent research reports. Stifel Nicolaus set a $18.00 target price on NOW and gave the company a “buy” rating in a report on Wednesday, August 2nd. Seaport Global Securities lowered NOW from a “buy” rating to a “neutral” rating and lowered their target price for the company from $22.00 to $17.00 in a report on Wednesday, June 21st. Zacks Investment Research lowered NOW from a “buy” rating to a “hold” rating in a report on Monday, May 8th. BidaskClub downgraded NOW from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Credit Suisse Group reduced their price objective on NOW from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $19.30.

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In other news, Director James Crandell bought 5,000 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was purchased at an average cost of $17.53 per share, for a total transaction of $87,650.00. Following the completion of the transaction, the director now directly owns 22,562 shares of the company’s stock, valued at approximately $395,511.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in NOW by 16,819.9% in the first quarter. BlackRock Inc. now owns 11,399,636 shares of the oil and gas company’s stock worth $193,337,000 after buying an additional 11,332,262 shares during the period. Dimensional Fund Advisors LP increased its stake in NOW by 42.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,515,967 shares of the oil and gas company’s stock worth $72,615,000 after buying an additional 1,353,934 shares during the period. Black Creek Investment Management Inc. increased its stake in NOW by 50.1% in the second quarter. Black Creek Investment Management Inc. now owns 2,333,200 shares of the oil and gas company’s stock worth $37,518,000 after buying an additional 779,200 shares during the period. Vanguard Group Inc. increased its stake in NOW by 9.2% in the first quarter. Vanguard Group Inc. now owns 8,787,117 shares of the oil and gas company’s stock worth $149,030,000 after buying an additional 739,256 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in NOW by 98.2% in the first quarter. JPMorgan Chase & Co. now owns 1,434,114 shares of the oil and gas company’s stock worth $24,323,000 after buying an additional 710,500 shares during the period. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Shares of NOW (DNOW) opened at 11.83 on Thursday. The company has a 50 day moving average price of $14.91 and a 200 day moving average price of $17.15. NOW has a 12-month low of $11.82 and a 12-month high of $23.53. The stock’s market cap is $1.27 billion.

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.

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