DNOW (NYSE:DNOW) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

DNOW (NYSE:DNOW) issued its quarterly earnings results on Thursday. The oil and gas company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $614.92 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. DNOW’s revenue was up 3.1% compared to the same quarter last year.

DNOW Trading Up 3.6 %

DNOW stock opened at $14.24 on Friday. The business’s 50 day simple moving average is $12.47 and its 200 day simple moving average is $13.32. DNOW has a 12 month low of $9.44 and a 12 month high of $15.65. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 6.88 and a beta of 1.45.

Analyst Ratings Changes

DNOW has been the subject of several research reports. StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Stifel Nicolaus upped their target price on DNOW from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 18th.

About DNOW

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.