“We believe PS is trending favorably early on and stands to enhance DNOW’s competitive position, LT share opportunity, and margin profile.”,” KeyCorp’s analyst wrote.
A number of other research analysts have also issued reports on the company. Cowen and Company began coverage on Now in a research report on Friday, September 16th. They set a market perform rating and a $22.00 price objective for the company. Zacks Investment Research upgraded Now from a sell rating to a hold rating in a research report on Wednesday, June 29th. Five analysts have rated the stock with a hold rating, Now presently has a consensus rating of Hold and an average target price of $18.00.
Now (NYSE:DNOW) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.06. Now had a negative return on equity of 8.92% and a negative net margin of 23.71%. The business earned $501 million during the quarter, compared to analyst estimates of $456.96 million. During the same quarter in the previous year, the firm posted ($0.16) EPS. The business’s revenue for the quarter was down 33.2% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Now during the fourth quarter worth about $32,976,000. BlackRock Fund Advisors raised its stake in shares of Now by 49.8% in the second quarter. BlackRock Fund Advisors now owns 5,308,092 shares of the company’s stock valued at $96,289,000 after buying an additional 1,764,444 shares during the period. Heartland Advisors Inc. purchased a new stake in shares of Now during the second quarter valued at $16,561,000. AQR Capital Management LLC raised its stake in shares of Now by 511.1% in the second quarter. AQR Capital Management LLC now owns 1,080,930 shares of the company’s stock valued at $19,608,000 after buying an additional 904,059 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of Now during the second quarter valued at $16,007,000. Institutional investors own 96.87% of the company’s stock.
NOW Inc (NOW) is a global distributor to energy and industrial markets. The Company operates primarily under the DistributionNOW and Wilson Export brands. The Company operates through three segments: United States (U.S.), Canada and International. Through its network of over 300 locations across the world, it stocks and sells an offering of energy products, as well as a selection of products for industrial applications.
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