NOW Inc. (DNOW) Downgraded by BidaskClub to “Strong Sell”
BidaskClub lowered shares of NOW Inc. (NYSE:DNOW) from a sell rating to a strong sell rating in a research note released on Friday morning.
A number of other brokerages have also recently issued reports on DNOW. Zacks Investment Research cut NOW from a hold rating to a sell rating in a report on Monday, July 17th. Stifel Nicolaus reiterated a buy rating on shares of NOW in a report on Friday, July 14th. Credit Suisse Group set a $15.00 target price on NOW and gave the stock a hold rating in a report on Friday, August 4th. Robert W. Baird reiterated a neutral rating and issued a $15.00 target price (down from $20.00) on shares of NOW in a report on Monday, October 9th. Finally, Cowen and Company set a $14.00 target price on NOW and gave the stock a hold rating in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $16.20.
NOW (NYSE DNOW) traded down $0.12 during trading on Friday, hitting $10.70. The company’s stock had a trading volume of 1,133,600 shares, compared to its average volume of 1,338,634. NOW has a 52-week low of $10.54 and a 52-week high of $23.53. The company has a current ratio of 2.72, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14.
NOW (NYSE:DNOW) last issued its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. NOW had a negative return on equity of 5.17% and a negative net margin of 4.77%. The company had revenue of $697.00 million for the quarter, compared to analysts’ expectations of $701.29 million. During the same period last year, the business earned ($0.34) EPS. NOW’s quarterly revenue was up 34.0% compared to the same quarter last year. sell-side analysts forecast that NOW will post -0.32 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in NOW by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 8,787,117 shares of the oil and gas company’s stock valued at $149,030,000 after buying an additional 739,256 shares during the last quarter. Federated Investors Inc. PA raised its position in NOW by 13.0% in the 2nd quarter. Federated Investors Inc. PA now owns 517,150 shares of the oil and gas company’s stock valued at $8,316,000 after buying an additional 59,461 shares during the last quarter. State Street Corp raised its position in NOW by 1.7% in the 1st quarter. State Street Corp now owns 3,468,501 shares of the oil and gas company’s stock valued at $58,823,000 after buying an additional 59,238 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in NOW in the 1st quarter valued at $293,000. Finally, Prudential Financial Inc. raised its position in NOW by 6.1% in the 1st quarter. Prudential Financial Inc. now owns 70,547 shares of the oil and gas company’s stock valued at $1,196,000 after buying an additional 4,040 shares during the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.
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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