Brokers Issue Forecasts for NOW Inc’s Q2 2018 Earnings (DNOW)

NOW Inc (NYSE:DNOW) – Equities researchers at Northcoast Research issued their Q2 2018 earnings per share (EPS) estimates for shares of NOW in a note issued to investors on Tuesday, July 31st. Northcoast Research analyst R. Cieslak expects that the oil and gas company will earn $0.02 per share for the quarter. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for NOW’s Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.04 EPS, FY2018 earnings at $0.12 EPS and FY2019 earnings at $0.43 EPS.

Get NOW alerts:

DNOW has been the subject of several other research reports. ValuEngine upgraded NOW from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 2nd. Zacks Investment Research downgraded NOW from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Susquehanna Bancshares set a $11.00 price target on NOW and gave the stock a “hold” rating in a research note on Friday, April 13th. TheStreet upgraded NOW from a “d+” rating to a “c” rating in a research note on Wednesday, May 16th. Finally, Cowen reiterated a “market perform” rating and set a $11.00 price target (up previously from $9.00) on shares of NOW in a research note on Thursday, May 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.80.

DNOW opened at $14.71 on Thursday. NOW has a 52-week low of $9.12 and a 52-week high of $15.53. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.35 and a current ratio of 2.72.

NOW (NYSE:DNOW) last released its quarterly earnings results on Wednesday, May 2nd. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. The company had revenue of $764.00 million during the quarter, compared to the consensus estimate of $720.22 million. NOW had a negative return on equity of 1.01% and a negative net margin of 0.97%. The firm’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.15) EPS.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its position in shares of NOW by 6.5% during the 2nd quarter. Baillie Gifford & Co. now owns 14,343,559 shares of the oil and gas company’s stock worth $191,199,000 after purchasing an additional 880,642 shares during the last quarter. Bank of Montreal Can lifted its position in shares of NOW by 117.4% during the 2nd quarter. Bank of Montreal Can now owns 1,347,033 shares of the oil and gas company’s stock worth $17,956,000 after purchasing an additional 727,326 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of NOW by 12.2% during the 2nd quarter. Wells Fargo & Company MN now owns 1,094,764 shares of the oil and gas company’s stock worth $14,593,000 after purchasing an additional 119,319 shares during the last quarter. Deutsche Bank AG lifted its position in shares of NOW by 40.2% during the 4th quarter. Deutsche Bank AG now owns 625,510 shares of the oil and gas company’s stock worth $6,896,000 after purchasing an additional 179,212 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of NOW by 448.5% during the 4th quarter. Two Sigma Advisers LP now owns 247,900 shares of the oil and gas company’s stock worth $2,734,000 after purchasing an additional 202,700 shares during the last quarter.

About NOW

NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.

Featured Story: Price to Earnings Ratio (PE)

Buy Heritage Foods; target of Rs 903: Edelweiss

Edelweiss' research report on Heritage Foods

Heritage Foods (HFL) reported Q1FY19 revenue growth of ~4% YoY (3% below estimate) on a high base (~32% growth driven by incremental volumes from Reliance Dairy in Q1FY18), but value-added dairy products (VADP) posted solid ~18% YoY growth. EBITDA margin expanded ~280bps, lifting EBITDA ~71% YoY (in line with our estimate) on the back of lower procurement cost, a favourable sales mix and improved performance of Reliance Dairy. While volume offtake growth took a hit owing to deepening penetration of new entrants/unorganized players in the current soft milk price environment, management guided for ~10% and ~15%-plus volume growth in liquid milk and VADP, respectively.

Outlook

Furthermore, HFL is focusing on marketing campaigns and processing capacity & distribution expansion to achieve its targets under ��Vision 2022��. Hence, we estimate ~37% EBITDA CAGR over FY18��20. Maintain ��BUY�� with TP of INR903.

For all recommendations report,�click here

Disclaimer:�The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More First Published on Aug 2, 2018 03:38 pm