Analysts’ forecasts for NOW
Of the analysts tracking NOW (DNOW) on May 23, ~36% recommended “buy” or some equivalent, 64% recommended “hold,” and none recommended “sell.” DNOW comprises 0.09% of the iShares Core S&P Mid-Cap ETF (IJH), which provides exposure to the oil and gas equipment and service segment. The energy sector accounts for 5.8% of IJH, which had risen ~13% in the year ended May 23. Between February 23 and May 23, the percentage of analysts recommending “buy” or some equivalent for DNOW rose from 33% to 36%, while “hold” recommendations fell.
Analysts’ target prices for DNOW
Analysts’ mean target price for DNOW on May 23 was $14.10, implying a ~3% downside based on its price of ~$14.60. Analysts’ mean target price for DNOW was $12.40 a month ago.
Target prices for DNOW’s peers
Analysts’ mean target price for RPC (RES) was $19.60 on May 23, implying a ~5% return based on its price of $18.72. Their mean target price for Superior Energy Services (SPN) was $12.90, implying an 8% return based on its price of ~$11.90. To learn more about the industry, read Market Realist’s The Lowest 5 Oilfield Services Companies by Free Cash Flow.