NOW (NYSE:DNOW) Issues Earnings Results, Beats Expectations By $0.05 EPS

NOW (NYSE:DNOWGet Rating) announced its quarterly earnings data on Thursday. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05, MarketWatch Earnings reports. NOW had a return on equity of 1.29% and a net margin of 0.31%. The business had revenue of $473.00 million for the quarter, compared to analysts’ expectations of $456.42 million. During the same period in the previous year, the business posted ($0.04) EPS. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year.

DNOW stock traded down $0.11 during mid-day trading on Friday, reaching $11.00. 877,662 shares of the company traded hands, compared to its average volume of 651,174. NOW has a 52-week low of $6.83 and a 52-week high of $12.55. The company has a market capitalization of $1.23 billion, a P/E ratio of 26.83 and a beta of 1.71. The company has a fifty day moving average price of $10.73 and a 200-day moving average price of $9.54.

Hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP purchased a new position in shares of NOW during the fourth quarter worth about $271,000. LPL Financial LLC grew its holdings in shares of NOW by 121.8% during the third quarter. LPL Financial LLC now owns 57,449 shares of the oil and gas company’s stock worth $439,000 after purchasing an additional 31,550 shares in the last quarter. Guggenheim Capital LLC grew its holdings in shares of NOW by 329.1% during the fourth quarter. Guggenheim Capital LLC now owns 55,931 shares of the oil and gas company’s stock worth $478,000 after purchasing an additional 42,898 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of NOW by 73.1% during the fourth quarter. Squarepoint Ops LLC now owns 65,162 shares of the oil and gas company’s stock worth $556,000 after purchasing an additional 27,528 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of NOW by 467.3% during the fourth quarter. Allianz Asset Management GmbH now owns 80,153 shares of the oil and gas company’s stock worth $685,000 after purchasing an additional 66,024 shares in the last quarter. 91.33% of the stock is owned by institutional investors.

A number of equities research analysts recently issued reports on the company. StockNews.com started coverage on NOW in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Zacks Investment Research raised NOW from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Tuesday, April 19th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, NOW has an average rating of “Buy” and a consensus price target of $12.00.

NOW Company Profile (Get Rating)

NOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and industrial manufacturing operations in the United States, Canada, and internationally. The company offers its products under the DistributionNOW and DNOW brand names.

Further Reading

Earnings History for NOW (NYSE:DNOW)

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