Q2 2022 EPS Estimates for NOW Inc. (NYSE:DNOW) Boosted by Capital One Financial

NOW Inc. (NYSE:DNOWGet Rating) – Stock analysts at Capital One Financial increased their Q2 2022 earnings per share estimates for shares of NOW in a report released on Thursday, May 5th. Capital One Financial analyst L. Lemoine now anticipates that the oil and gas company will earn $0.17 per share for the quarter, up from their previous forecast of $0.10. Capital One Financial also issued estimates for NOW’s Q3 2022 earnings at $0.19 EPS, Q4 2022 earnings at $0.15 EPS, Q1 2023 earnings at $0.17 EPS, Q2 2023 earnings at $0.19 EPS, Q3 2023 earnings at $0.22 EPS and Q4 2023 earnings at $0.18 EPS.

A number of other research firms have also commented on DNOW. Zacks Investment Research upgraded NOW from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Tuesday, April 19th. StockNews.com assumed coverage on NOW in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $12.00.

Shares of NYSE DNOW opened at $11.00 on Monday. The business’s 50 day moving average is $10.73 and its 200-day moving average is $9.55. NOW has a 1-year low of $6.83 and a 1-year high of $12.55. The firm has a market cap of $1.23 billion, a P/E ratio of 26.83 and a beta of 1.71.

NOW (NYSE:DNOWGet Rating) last announced its earnings results on Thursday, May 5th. The oil and gas company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The company had revenue of $473.00 million for the quarter, compared to analyst estimates of $456.42 million. NOW had a return on equity of 4.07% and a net margin of 2.58%. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) earnings per share.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DNOW. American Century Companies Inc. raised its position in shares of NOW by 147.0% in the 4th quarter. American Century Companies Inc. now owns 3,800,431 shares of the oil and gas company’s stock worth $32,456,000 after acquiring an additional 2,261,702 shares in the last quarter. Millennium Management LLC increased its position in NOW by 360.7% in the 4th quarter. Millennium Management LLC now owns 2,029,146 shares of the oil and gas company’s stock valued at $17,329,000 after buying an additional 1,588,699 shares in the last quarter. Norges Bank bought a new stake in NOW in the 4th quarter valued at about $9,041,000. New York State Common Retirement Fund increased its position in NOW by 1,247.4% in the 4th quarter. New York State Common Retirement Fund now owns 974,186 shares of the oil and gas company’s stock valued at $8,320,000 after buying an additional 901,887 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in NOW by 70.3% during the 4th quarter. Nuveen Asset Management LLC now owns 1,947,553 shares of the oil and gas company’s stock valued at $15,524,000 after purchasing an additional 804,015 shares during the last quarter. 91.33% of the stock is currently owned by institutional investors.

NOW Company Profile (Get Rating)

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.

Further Reading

Earnings History and Estimates for NOW (NYSE:DNOW)

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