Somewhat Positive Press Coverage Somewhat Unlikely to Impact NOW (NYSE:DNOW) Stock Price
News headlines about NOW (NYSE:DNOW) have trended somewhat positive on Sunday, according to Accern Sentiment. Accern rates the sentiment of news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. NOW earned a media sentiment score of 0.16 on Accern’s scale. Accern also assigned headlines about the oil and gas company an impact score of 45.9973290247613 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
These are some of the headlines that may have impacted Accern’s scoring:
- NOW Inc. (DNOW) Reached a New 52-Week High – Modern Readers (modernreaders.com)
- NOW Inc. (NYSE:DNOW) Experiences Heavy Trading Volume – Modern Readers (modernreaders.com)
- Breaking Down the Chart for NOW Inc. (DNOW) – Economic News (economicsandmoney.com)
- NOW Inc (DNOW) Trending Downward Near-term – Evergreen Caller (evergreencaller.com)
- NOW Inc. (NYSE:DNOW) Stock Traded Significantly Below Its 50 Day Average – Modern Readers (modernreaders.com)
NOW (NYSE DNOW) opened at 12.17 on Friday. The firm’s market capitalization is $1.31 billion. The company has a 50-day moving average price of $15.20 and a 200-day moving average price of $17.40. NOW has a 1-year low of $12.05 and a 1-year high of $23.53.
NOW (NYSE:DNOW) last posted its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.10). The business had revenue of $651 million for the quarter, compared to analysts’ expectations of $674.97 million. NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. On average, equities research analysts predict that NOW will post ($0.24) earnings per share for the current fiscal year.
A number of equities analysts recently commented on DNOW shares. Seaport Global Securities downgraded NOW from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $17.00 in a research note on Wednesday, June 21st. Credit Suisse Group decreased their price target on NOW from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, May 15th. Stephens upgraded NOW from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $24.00 to $23.00 in a research note on Thursday, May 4th. Zacks Investment Research upgraded NOW from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Tuesday, April 18th. Finally, Robert W. Baird upgraded NOW from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $20.00 to $22.00 in a research note on Wednesday, April 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $19.30.
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In other news, Director James Crandell acquired 5,000 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were purchased at an average cost of $17.53 per share, with a total value of $87,650.00. Following the completion of the purchase, the director now owns 22,562 shares of the company’s stock, valued at $395,511.86. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.
NOW Inc (NOW) is a global distributor to the oil and gas and industrial markets. The Company operates under the DistributionNOW and Wilson Export brands. Its segments include the United States, Canada and International. As of December 31, 2016, its segments, the United States, Canada and International, had over 200, 55 and 35 locations, respectively.
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