NOW Inc (DNOW) Expected to Announce Quarterly Sales of $807.24 Million

Analysts expect NOW Inc (NYSE:DNOW) to report sales of $807.24 million for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for NOW’s earnings. The highest sales estimate is $813.90 million and the lowest is $800.08 million. NOW posted sales of $697.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.8%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, November 1st.

According to Zacks, analysts expect that NOW will report full-year sales of $3.12 billion for the current fiscal year, with estimates ranging from $3.04 billion to $3.15 billion. For the next year, analysts anticipate that the firm will post sales of $3.41 billion per share, with estimates ranging from $3.24 billion to $3.57 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for NOW.

NOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, August 2nd. The oil and gas company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.07. NOW had a return on equity of 0.76% and a net margin of 0.14%. The firm had revenue of $777.00 million during the quarter, compared to analysts’ expectations of $761.78 million. During the same period last year, the firm posted ($0.10) EPS. The business’s revenue was up 19.4% on a year-over-year basis.

A number of equities research analysts recently weighed in on the company. Northcoast Research assumed coverage on NOW in a report on Tuesday, July 31st. They set a “neutral” rating for the company. Cowen reissued a “market perform” rating and issued a $11.00 target price (up from $9.00) on shares of NOW in a research note on Thursday, May 3rd. Robert W. Baird reissued a “hold” rating and issued a $17.00 target price on shares of NOW in a research note on Friday, August 3rd. ValuEngine raised NOW from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 2nd. Finally, Zacks Investment Research cut NOW from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. NOW has an average rating of “Hold” and a consensus target price of $14.50.

DNOW stock traded up $0.20 during midday trading on Tuesday, reaching $17.25. 2,272,481 shares of the company’s stock traded hands, compared to its average volume of 1,368,739. NOW has a 1-year low of $9.12 and a 1-year high of $18.56. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 189.44 and a beta of 0.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.89 and a quick ratio of 1.45.

Institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its holdings in NOW by 6.5% during the second quarter. Baillie Gifford & Co. now owns 14,343,559 shares of the oil and gas company’s stock worth $191,199,000 after acquiring an additional 880,642 shares in the last quarter. BlackRock Inc. lifted its holdings in NOW by 3.8% during the second quarter. BlackRock Inc. now owns 11,741,100 shares of the oil and gas company’s stock worth $156,509,000 after acquiring an additional 425,281 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of NOW by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 6,636,170 shares of the oil and gas company’s stock valued at $88,460,000 after purchasing an additional 1,122,053 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of NOW by 11.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,598,846 shares of the oil and gas company’s stock valued at $21,313,000 after purchasing an additional 162,625 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of NOW by 117.4% in the second quarter. Bank of Montreal Can now owns 1,347,033 shares of the oil and gas company’s stock valued at $17,956,000 after purchasing an additional 727,326 shares in the last quarter.

About NOW

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, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.

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