Cowen & Co. Initiates Coverage on NOW Inc to Market Perform

Cowen & Co. Initiates Coverage on NOW Inc(NYSE:DNOW). The shares have been rated Market Perform. The rating by Cowen & Co. was issued on Sep 16, 2016.

NOW Inc (DNOW) made into the market gainers list on Thursdays trading session with the shares advancing 3.02% or 0.58 points. Due to strong positive momentum, the stock ended at $19.81, which is also near the day’s high of $19.9. The stock began the session at $19.85 and the volume stood at 5,72,304 shares. The 52-week high of the shares is $21.73 and the 52 week low is $12.03. The company has a current market capitalization of $2,129 M and it has 10,74,73,952 shares in outstanding.

NOW Inc(DNOW) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $501.00M. Analysts had an estimated revenue of $456.96M. Earnings per share were $-0.40. Analysts had estimated an EPS of $-0.46.

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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