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

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

DNOW Stock Up 3.7 %

Shares of NYSE:DNOW opened at $14.25 on Friday. The firm has a 50 day moving average of $12.47 and a 200 day moving average of $13.31. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 6.88 and a beta of 1.45. DNOW has a 52 week low of $9.44 and a 52 week high of $15.65.

Wall Street Analysts Forecast Growth

DNOW has been the subject of a number of research analyst reports. StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Stifel Nicolaus upped their price objective 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.

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.