Now Inc. (NYSE:DNOW)‘s stock had its “hold” rating reissued by analysts at KeyCorp in a research note issued on Tuesday.
The analysts wrote, “We believe PS is trending favorably early on and stands to enhance DNOW’s competitive position, LT share opportunity, and margin profile.””
A number of other research firms have also recently issued reports on DNOW. Cowen and Company began coverage on shares of Now in a research note on Friday, September 16th. They issued a “market perform” rating and a $22.00 target price for the company. Zacks Investment Research upgraded shares of Now from a “sell” rating to a “hold” rating in a research note on Tuesday, June 14th. Five research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus price target of $18.00.
Now (NYSE:DNOW) opened at 20.46 on Tuesday. The stock’s market cap is $2.20 billion. The stock has a 50 day moving average of $20.44 and a 200-day moving average of $18.69. Now has a 52 week low of $12.03 and a 52 week high of $21.73.
Now (NYSE:DNOW) last posted its earnings results 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. The firm earned $501 million during the quarter, compared to analysts’ expectations of $456.96 million. Now had a negative net margin of 23.71% and a negative return on equity of 8.92%. The company’s revenue was down 33.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.16) earnings per share. Analysts forecast that Now will post ($1.52) earnings per share for the current year.
Several hedge funds have recently modified their holdings of DNOW. Vanguard Group Inc. boosted its stake in shares of Now by 6.5% in the second quarter. Vanguard Group Inc. now owns 7,761,152 shares of the company’s stock worth $140,787,000 after buying an additional 473,442 shares during the last quarter. BlackRock Fund Advisors boosted its position in 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 last quarter. FIL Ltd boosted its position in Now by 13.4% in the second quarter. FIL Ltd now owns 4,262,024 shares of the company’s stock valued at $77,313,000 after buying an additional 502,745 shares during the last quarter. State Street Corp boosted its position in Now by 22.5% in the second quarter. State Street Corp now owns 3,481,391 shares of the company’s stock valued at $63,150,000 after buying an additional 638,800 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Now by 2.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,230,779 shares of the company’s stock valued at $58,606,000 after buying an additional 66,361 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.
Now Company Profile
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.
Receive News & Ratings for Now Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Now Inc. and related companies with MarketBeat.com's FREE daily email newsletter.