Zacks: Analysts Expect NOW Inc (NYSE:DNOW) Will Announce Earnings of -$0.05 Per Share

Brokerages expect NOW Inc (NYSE:DNOW) to announce ($0.05) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for NOW’s earnings, with estimates ranging from ($0.11) to ($0.02). NOW reported earnings of $0.12 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 141.7%. The business is expected to report its next earnings report before the market opens on Wednesday, May 6th.

According to Zacks, analysts expect that NOW will report full-year earnings of ($0.14) per share for the current financial year, with EPS estimates ranging from ($0.73) to $0.19. For the next fiscal year, analysts forecast that the firm will post earnings of $0.10 per share, with EPS estimates ranging from ($0.55) to $0.34. Zacks’ earnings per share 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 results on Wednesday, February 19th. The oil and gas company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06). The business had revenue of $639.00 million during the quarter, compared to analyst estimates of $675.35 million. NOW had a positive return on equity of 2.11% and a negative net margin of 3.29%. NOW’s revenue was down 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS.

DNOW has been the subject of several recent analyst reports. Zacks Investment Research raised NOW from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. TheStreet downgraded NOW from a “c” rating to a “d+” rating in a report on Wednesday, February 19th. Stephens lowered their price target on NOW from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Cowen lowered their price target on NOW from $12.00 to $8.25 and set a “market perform” rating for the company in a report on Thursday, February 20th. Finally, KeyCorp lowered their price target on NOW from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, March 20th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $12.88.

Several large investors have recently made changes to their positions in DNOW. Tower Research Capital LLC TRC raised its stake in shares of NOW by 672.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,981 shares of the oil and gas company’s stock worth $56,000 after purchasing an additional 4,336 shares during the last quarter. Royce & Associates LP purchased a new position in shares of NOW in the fourth quarter worth about $60,000. Aigen Investment Management LP purchased a new position in shares of NOW in the fourth quarter worth about $106,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of NOW by 70.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,859 shares of the oil and gas company’s stock worth $111,000 after purchasing an additional 4,081 shares during the last quarter. Finally, Profund Advisors LLC purchased a new position in shares of NOW in the fourth quarter worth about $115,000.

NYSE DNOW traded down $0.36 during trading on Monday, hitting $5.53. The company’s stock had a trading volume of 2,567,333 shares, compared to its average volume of 1,609,381. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.69 and a quick ratio of 1.52. The company has a market cap of $643.23 million, a PE ratio of -6.14 and a beta of 1.56. The business’s 50 day simple moving average is $8.19 and its 200-day simple moving average is $10.47. NOW has a fifty-two week low of $4.05 and a fifty-two week high of $15.72.

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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