DNOW (NYSE:DNOW) Issues Quarterly Earnings Results

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

DNOW Price Performance

NYSE:DNOW traded up $0.51 on Friday, hitting $14.25. 1,149,062 shares of the company’s stock were exchanged, compared to its average volume of 937,468. The firm has a 50-day moving average price of $12.44 and a 200-day moving average price of $13.32. DNOW has a 52 week low of $9.44 and a 52 week high of $15.65. The company has a market cap of $1.52 billion, a P/E ratio of 6.64 and a beta of 1.45.

Wall Street Analyst Weigh In

DNOW has been the subject of several recent analyst reports. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Susquehanna cut their price target on shares of DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Finally, Stifel Nicolaus increased their price objective on shares of DNOW from $16.00 to $17.00 and gave the stock a “buy” rating in a research 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.