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

Wall Street analysts expect NOW Inc. (NYSE:DNOW) to announce sales of $420.97 million for the current quarter, Zacks reports. Three analysts have provided estimates for NOW’s earnings. The highest sales estimate is $425.30 million and the lowest is $417.40 million. NOW posted sales of $319.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 32%. The firm is expected to report its next earnings report on Wednesday, February 16th.

On average, analysts expect that NOW will report full-year sales of $1.62 billion for the current fiscal year, with estimates ranging from $1.61 billion to $1.63 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.85 billion, with estimates ranging from $1.83 billion to $1.88 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts 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, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The business had revenue of $439.00 million during the quarter, compared to analyst estimates of $422.80 million. NOW had a negative return on equity of 3.88% and a negative net margin of 3.36%. NOW’s revenue for the quarter was up 34.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.16) earnings per share.

A number of analysts have recently weighed in on the company. Zacks Investment Research raised NOW from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Monday, November 8th. Stephens raised 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 investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, NOW currently has an average rating of “Buy” and a consensus price target of $10.50.

Shares of NYSE:DNOW traded down $0.03 during trading on Thursday, reaching $9.70. 990,016 shares of the company traded hands, compared to its average volume of 1,034,498. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -21.09 and a beta of 1.97. NOW has a 52-week low of $5.44 and a 52-week high of $11.98. The business’s fifty day moving average is $8.40 and its 200-day moving average is $8.99.

Several institutional investors have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. raised its holdings in shares of NOW by 1.2% during the second quarter. UBS Asset Management Americas Inc. now owns 129,910 shares of the oil and gas company’s stock valued at $1,233,000 after acquiring an additional 1,601 shares in the last quarter. FDx Advisors Inc. raised its holdings in NOW by 12.1% in the third quarter. FDx Advisors Inc. now owns 17,735 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 1,908 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in NOW by 2.6% in the second quarter. State of Alaska Department of Revenue now owns 76,294 shares of the oil and gas company’s stock worth $724,000 after purchasing an additional 1,936 shares in the last quarter. Voya Investment Management LLC raised its holdings in NOW by 1.9% in the third quarter. Voya Investment Management LLC now owns 109,240 shares of the oil and gas company’s stock worth $836,000 after purchasing an additional 2,035 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in NOW by 17.5% in the second quarter. Teacher Retirement System of Texas now owns 14,384 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 2,142 shares in the last quarter. Institutional investors own 92.28% of the company’s stock.

NOW Company Profile

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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