NOW Inc. (NYSE:DNOW) Expected to Announce Quarterly Sales of $420.97 Million

Wall Street brokerages expect NOW Inc. (NYSE:DNOW) to post $420.97 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for NOW’s earnings, with the highest sales estimate coming in at $425.30 million and the lowest estimate coming in at $417.40 million. NOW reported sales of $319.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 32%. The company is scheduled to report its next earnings report on Wednesday, February 16th.

According to Zacks, analysts expect that NOW will report full-year sales of $1.62 billion for the current financial year, with estimates ranging from $1.61 billion to $1.63 billion. For the next fiscal year, analysts expect that the business will post sales of $1.85 billion, with estimates ranging from $1.83 billion to $1.88 billion. Zacks’ sales averages are an average based on a survey of research firms that follow NOW.

NOW (NYSE:DNOW) last issued its earnings results on Wednesday, November 3rd. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.03. NOW had a negative net margin of 3.36% and a negative return on equity of 3.88%. The company had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $422.80 million. During the same period last year, the company posted ($0.16) earnings per share. The firm’s quarterly revenue was up 34.7% compared to the same quarter last year.

A number of research analysts have issued reports on DNOW shares. Zacks Investment Research raised shares of NOW from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Monday, November 8th. Stephens raised shares of NOW from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective for the company in a research note on Thursday, November 4th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $10.50.

NOW stock traded down $0.03 during mid-day trading on Thursday, reaching $9.70. The company had a trading volume of 990,016 shares, compared to its average volume of 1,034,498. NOW has a 1 year low of $5.44 and a 1 year high of $11.98. The company has a market capitalization of $1.07 billion, a P/E ratio of -21.09 and a beta of 1.97. The stock’s 50-day simple moving average is $8.46 and its 200-day simple moving average is $8.98.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Eaton Vance Management acquired a new stake in NOW during the first quarter worth approximately $51,000. Macquarie Group Ltd. boosted its holdings in shares of NOW by 306.0% in the 3rd quarter. Macquarie Group Ltd. now owns 8,060 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 6,075 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of NOW in the 3rd quarter valued at $100,000. Coldstream Capital Management Inc. acquired a new position in shares of NOW in the 1st quarter valued at $101,000. Finally, Citizens Financial Group Inc RI acquired a new position in shares of NOW in the 3rd quarter valued at $105,000. Hedge funds and other institutional investors own 92.28% of the company’s stock.

About NOW

NOW, Inc is a holding company, which engages in the distribution of energy products for industrial applications. It operates through the following segments: United States, Canada, and International. The United States segment serves the upstream, midstream and downstream energy, and industrial markets.

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Earnings History and Estimates for NOW (NYSE:DNOW)

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