DNOW (NYSE:DNOW) Announces Quarterly Earnings Results

DNOW (NYSE:DNOW) issued its quarterly earnings data on Thursday. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02, Briefing.com reports. DNOW had a net margin of 9.70% and a return on equity of 9.93%. The company had revenue of $606.00 million for the quarter, compared to the consensus estimate of $614.92 million. During the same period last year, the firm posted $0.25 EPS. DNOW’s revenue for the quarter was up 3.1% on a year-over-year basis.

DNOW Price Performance

DNOW traded up $0.51 during midday trading on Friday, reaching $14.25. 477,166 shares of the company’s stock were exchanged, compared to its average volume of 934,372. DNOW has a 1-year low of $9.44 and a 1-year high of $15.65. The stock has a market capitalization of $1.52 billion, a PE ratio of 6.64 and a beta of 1.45. The business’s 50-day moving average price is $12.44 and its 200 day moving average price is $13.32.

Analyst Ratings Changes

Several analysts have recently weighed in on DNOW shares. Susquehanna lowered their target price on shares of DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Stifel Nicolaus boosted their price objective on shares of DNOW from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, July 18th.

DNOW Company Profile

DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.