Now Inc. (DNOW) Earns Market Perform Rating from Analysts at Cowen and Company
Cowen and Company began coverage on shares of Now Inc. (NYSE:DNOW) in a research report report published on Friday morning. The firm issued a market perform rating and a $22.00 target price on the stock.
Separately, Zacks Investment Research upgraded Now from a sell rating to a hold rating in a report on Tuesday, June 14th. Four investment analysts have rated the stock with a hold rating, Now has an average rating of Hold and an average price target of $18.00.
Shares of Now (NYSE:DNOW) opened at 18.73 on Friday. The firm’s market capitalization is $2.01 billion. The company has a 50-day moving average price of $20.47 and a 200 day moving average price of $18.64. Now has a 12-month low of $12.03 and a 12-month high of $21.73.
Now (NYSE:DNOW) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.06. The business earned $501 million during the quarter, compared to the consensus estimate of $456.96 million. Now had a negative return on equity of 8.92% and a negative net margin of 23.71%. The firm’s revenue was down 33.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.16) earnings per share. Equities research analysts expect that Now will post ($1.52) earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in DNOW. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Now by 20.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,985 shares of the company’s stock valued at $106,000 after buying an additional 1,026 shares during the period. Advisor Group Inc. acquired a new stake in shares of Now during the second quarter valued at about $138,000. LS Investment Advisors LLC increased its stake in shares of Now by 101.8% in the second quarter. LS Investment Advisors LLC now owns 7,661 shares of the company’s stock valued at $139,000 after buying an additional 3,864 shares during the period. SeaBridge Investment Advisors LLC increased its stake in shares of Now by 4.2% in the second quarter. SeaBridge Investment Advisors LLC now owns 8,462 shares of the company’s stock valued at $154,000 after buying an additional 339 shares during the period. Finally, M&R Capital Management Inc. acquired a new stake in shares of Now during the second quarter valued at about $169,000. Institutional investors own 96.87% of the company’s stock.
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.
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