DNOW (NYSE:DNOW) Announces Earnings Results, Misses Estimates By $0.02 EPS

DNOW (NYSE:DNOW - Get Free Report) posted its earnings results on Friday. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02), Briefing.com reports. DNOW had a return on equity of 11.60% and a net margin of 10.64%. The firm had revenue of $563.00 million for the quarter, compared to analysts' expectations of $569.15 million. During the same period in the previous year, the company earned $0.25 earnings per share. The company's revenue was down 3.6% compared to the same quarter last year. DNOW updated its Q2 2024 guidance to EPS.

DNOW Stock Down 10.7 %

DNOW traded down $1.59 during trading on Friday, reaching $13.28. The company's stock had a trading volume of 1,540,263 shares, compared to its average volume of 677,768. The firm has a fifty day simple moving average of $14.72 and a two-hundred day simple moving average of $12.17. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 6.12 and a beta of 1.48. DNOW has a 1 year low of $8.83 and a 1 year high of $15.57.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of DNOW from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, March 28th. StockNews.com lowered shares of DNOW from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 28th. Finally, Susquehanna increased their target price on DNOW from $13.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, April 8th.

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.