Shares of NOW Inc (NYSE:DNOW) have earned an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $15.40.
Separately, Zacks Investment Research upgraded shares of NOW from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Tuesday, June 18th.
Several large investors have recently modified their holdings of the company. SeaBridge Investment Advisors LLC raised its stake in NOW by 1.3% in the first quarter. SeaBridge Investment Advisors LLC now owns 54,190 shares of the oil and gas company’s stock worth $756,000 after buying an additional 690 shares in the last quarter. FMR LLC raised its stake in NOW by 54.3% in the fourth quarter. FMR LLC now owns 2,199 shares of the oil and gas company’s stock worth $26,000 after buying an additional 774 shares in the last quarter. Westpac Banking Corp raised its stake in NOW by 1.4% in the fourth quarter. Westpac Banking Corp now owns 56,028 shares of the oil and gas company’s stock worth $652,000 after buying an additional 789 shares in the last quarter. Arizona State Retirement System raised its stake in NOW by 1.1% in the fourth quarter. Arizona State Retirement System now owns 77,818 shares of the oil and gas company’s stock worth $906,000 after buying an additional 855 shares in the last quarter. Finally, Mason Street Advisors LLC raised its stake in NOW by 1.5% in the first quarter. Mason Street Advisors LLC now owns 57,665 shares of the oil and gas company’s stock worth $805,000 after buying an additional 873 shares in the last quarter.
NOW (NYSE:DNOW) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. NOW had a net margin of 2.16% and a return on equity of 4.19%. The business had revenue of $785.00 million during the quarter, compared to analyst estimates of $772.54 million. During the same period in the prior year, the business posted $0.01 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that NOW will post 0.43 earnings per share for the current year.
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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