NOW Inc (DNOW) is Initiated by Cowen to Market Perform, Price Target at $22

NOW Inc (DNOW) was Initiated by Cowen to “Market Perform” and the brokerage firm has set the Price Target at $22. Cowen advised their investors in a research report released on Sep 16, 2016.

On the company’s financial health, NOW Inc reported $-0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.46. The company had revenue of $501.00 million for the quarter, compared to analysts expectations of $458.37 million. The company’s revenue was down -33.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.16 EPS.

NOW Inc closed down -0.37 points or -1.85% at $19.63 with 590,749 shares getting traded on Wednesday. Post opening the session at $19.93, the shares hit an intraday low of $19.56 and an intraday high of $20.03 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

NOW Inc. (NOW) is a global distributor to energy and industrial markets. The Company operates through three segments: United States (U.S.) Canada and International. The Company operates primarily under the DistributionNOW and Wilson Export brands. Its energy product offering is needed throughout all sectors of the oil and gas industry from upstream drilling and completion exploration and production (E&P) midstream infrastructure development to downstream petroleum refining as well as in other industries. It also provides supply chain management to drilling contractors E&P operators midstream operators downstream energy and industrial manufacturing companies around the world. The Company’s global product offering includes consumable maintenance repair and operating (MRO) supplies pipe valves fittings flanges electrical artificial lift solutions mill tools safety supplies and spare parts to support customers’ operations.


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