DNOW (NYSE:DNOW – Get Free Report) announced its earnings results on Thursday. The oil and gas company reported $0.21 earnings per share (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 firm had revenue of $606.00 million for the quarter, compared to analyst estimates of $614.92 million. During the same quarter last year, the business earned $0.25 earnings per share. DNOW’s revenue was up 3.1% compared to the same quarter last year.
DNOW Stock Up 3.7 %
Shares of DNOW stock traded up $0.51 during mid-day trading on Friday, reaching $14.25. The company’s stock had a trading volume of 477,166 shares, compared to its average volume of 934,372. The company’s 50 day simple moving average is $12.44 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 firm has a market capitalization of $1.52 billion, a PE ratio of 6.64 and a beta of 1.45.
Analysts Set New Price Targets
A number of brokerages recently issued reports on DNOW. Susquehanna decreased their target price on shares of DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Stifel Nicolaus increased their price target on shares of DNOW from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th.
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.
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