NOW (NYSE:DNOW – Get Rating) will announce its earnings results before the market opens on Wednesday, November 2nd. Analysts expect the company to announce earnings of $0.24 per share for the quarter. NOW has set its FY 2022 guidance at EPS.Investors that are interested in participating in the company’s conference call can do so using this link.
NOW (NYSE:DNOW – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The oil and gas company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. NOW had a net margin of 3.88% and a return on equity of 7.91%. The firm had revenue of $539.00 million for the quarter, compared to analyst estimates of $487.65 million. On average, analysts expect NOW to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
NOW Trading Up 1.8 %
NOW stock opened at $11.70 on Wednesday. The firm’s fifty day moving average price is $11.16 and its two-hundred day moving average price is $10.77. NOW has a 1-year low of $6.99 and a 1-year high of $13.40. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 17.73 and a beta of 1.60.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on DNOW shares. StockNews.com started coverage on shares of NOW in a report on Wednesday, October 12th. They set a “buy” rating for the company. Benchmark raised their price objective on shares of NOW to $15.00 in a research report on Tuesday, August 9th.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of NOW by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,119,251 shares of the oil and gas company’s stock worth $12,345,000 after buying an additional 30,031 shares during the period. Citigroup Inc. boosted its stake in NOW by 5.1% in the 1st quarter. Citigroup Inc. now owns 105,268 shares of the oil and gas company’s stock worth $1,161,000 after purchasing an additional 5,070 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in NOW by 60.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the oil and gas company’s stock worth $75,000 after purchasing an additional 2,546 shares in the last quarter. MetLife Investment Management LLC boosted its stake in NOW by 63.5% in the 1st quarter. MetLife Investment Management LLC now owns 57,892 shares of the oil and gas company’s stock worth $639,000 after purchasing an additional 22,488 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in NOW by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 95,313 shares of the oil and gas company’s stock worth $1,051,000 after purchasing an additional 11,752 shares in the last quarter. 96.38% of the stock is owned by hedge funds and other institutional investors.
About NOW
NOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and industrial manufacturing operations in the United States, Canada, and internationally. The company offers its products under the DistributionNOW and DNOW brand names.
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