Q3 2022 Earnings Forecast for NOW Inc. Issued By Capital One Financial (NYSE:DNOW)

NOW Inc. (NYSE:DNOW – Get Rating) – Equities researchers at Capital One Financial raised their Q3 2022 earnings estimates for shares of NOW in a research report issued on Wednesday, August 3rd. Capital One Financial analyst L. Lemoine now expects that the oil and gas company will post earnings per share of $0.27 for the quarter, up from their previous estimate of $0.19. The consensus estimate for NOW’s current full-year earnings is $0.60 per share. Capital One Financial also issued estimates for NOW’s Q4 2022 earnings at $0.23 EPS, Q1 2023 earnings at $0.23 EPS, Q2 2023 earnings at $0.27 EPS, Q3 2023 earnings at $0.29 EPS and Q4 2023 earnings at $0.27 EPS.

Separately, Benchmark assumed coverage on shares of NOW in a research note on Thursday, July 7th. They issued a “buy” rating and a $13.00 price target for the company.

NOW Price Performance

Shares of NOW stock opened at $11.41 on Friday. The company has a 50-day moving average of $10.34 and a 200 day moving average of $10.26. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 17.29 and a beta of 1.68. NOW has a 1 year low of $6.83 and a 1 year high of $12.55.

NOW (NYSE:DNOW – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. The company had revenue of $473.00 million during the quarter, compared to analyst estimates of $456.42 million. NOW had a net margin of 3.88% and a return on equity of 7.91%. NOW’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period last year, the business earned ($0.04) EPS.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. US Bancorp DE increased its stake in NOW by 839.2% during the 2nd quarter. US Bancorp DE now owns 2,705 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 2,417 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in NOW during the 1st quarter valued at about $66,000. Captrust Financial Advisors increased its stake in NOW by 173.7% during the 1st quarter. Captrust Financial Advisors now owns 5,973 shares of the oil and gas company’s stock valued at $66,000 after purchasing an additional 3,791 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in NOW by 60.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the oil and gas company’s stock valued at $75,000 after purchasing an additional 2,546 shares in the last quarter. Finally, PDT Partners LLC bought a new stake in shares of NOW in the fourth quarter worth approximately $89,000. 91.33% of the stock is currently owned by institutional investors.

NOW Company Profile

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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.

Read More

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