J P Morgan Chase & Co Cuts NOW Inc. (DNOW) Price Target to $12.00
NOW Inc. (NYSE:DNOW) had its price objective decreased by J P Morgan Chase & Co from $15.00 to $12.00 in a report published on Tuesday. J P Morgan Chase & Co currently has a neutral rating on the oil and gas company’s stock.
Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of NOW from a hold rating to a sell rating in a research report on Monday, July 17th. BidaskClub cut shares of NOW from a sell rating to a strong sell rating in a research report on Monday, August 14th. Credit Suisse Group set a $15.00 price target on shares of NOW and gave the company a hold rating in a research report on Friday, August 4th. KeyCorp restated an overweight rating and issued a $22.00 price target on shares of NOW in a research report on Friday, May 26th. Finally, Stifel Nicolaus assumed coverage on shares of NOW in a research report on Tuesday, June 6th. They issued a buy rating and a $21.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $19.10.
Shares of NOW (NYSE:DNOW) traded down 2.92% during mid-day trading on Tuesday, hitting $12.65. 643,637 shares of the company were exchanged. The firm’s market capitalization is $1.36 billion. The company’s 50-day moving average price is $12.65 and its 200-day moving average price is $15.86. NOW has a 12-month low of $11.31 and a 12-month high of $23.53.
NOW (NYSE:DNOW) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.10). The business had revenue of $651.00 million during 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 quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.40) EPS. Equities research analysts predict that NOW will post ($0.24) earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of the company. Amalgamated Bank boosted its stake in shares of NOW by 0.7% in the 2nd quarter. Amalgamated Bank now owns 15,153 shares of the oil and gas company’s stock valued at $244,000 after purchasing an additional 105 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of NOW by 0.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,765 shares of the oil and gas company’s stock valued at $270,000 after purchasing an additional 115 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of NOW by 0.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 37,569 shares of the oil and gas company’s stock valued at $604,000 after purchasing an additional 208 shares during the last quarter. State Treasurer State of Michigan boosted its stake in shares of NOW by 0.9% in the 1st quarter. State Treasurer State of Michigan now owns 43,627 shares of the oil and gas company’s stock valued at $740,000 after purchasing an additional 400 shares during the last quarter. Finally, Advantus Capital Management Inc boosted its stake in shares of NOW by 3.0% in the 1st quarter. Advantus Capital Management Inc now owns 13,760 shares of the oil and gas company’s stock valued at $233,000 after purchasing an additional 403 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.
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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