NOW (NYSE:DNOW) posted its earnings results on Thursday. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.03, MarketWatch Earnings reports. The company had revenue of $785.00 million during the quarter, compared to analyst estimates of $772.54 million. NOW had a return on equity of 3.24% and a net margin of 1.66%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 EPS.
Shares of DNOW traded up $0.59 on Thursday, hitting $14.85. The company’s stock had a trading volume of 1,078,357 shares, compared to its average volume of 753,089. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.40 and a current ratio of 2.76. NOW has a fifty-two week low of $10.36 and a fifty-two week high of $18.56. The firm has a market capitalization of $1.63 billion, a PE ratio of 41.25 and a beta of 1.40.
Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in NOW by 54.3% in the 4th quarter. FMR LLC now owns 2,199 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 774 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in NOW by 1,090.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 501,882 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 459,739 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in NOW in the 1st quarter valued at approximately $66,000. First Hawaiian Bank lifted its stake in NOW by 27.6% in the 4th quarter. First Hawaiian Bank now owns 6,581 shares of the oil and gas company’s stock valued at $77,000 after acquiring an additional 1,425 shares in the last quarter. Finally, Stone Ridge Asset Management LLC bought a new stake in NOW in the 4th quarter valued at approximately $117,000.
Several research firms have recently issued reports on DNOW. Zacks Investment Research lowered NOW from a “buy” rating to a “hold” rating in a research report on Friday, January 18th. ValuEngine upgraded NOW from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Seven research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $15.40.
COPYRIGHT VIOLATION WARNING: This article was posted by Macon Daily and is the property of of Macon Daily. If you are reading this article on another domain, it was stolen and republished in violation of U.S. & international copyright and trademark laws. The original version of this article can be accessed at https://macondaily.com/2019/05/02/now-dnow-releases-quarterly-earnings-results-beats-estimates-by-0-03-eps.html.
NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, 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 applied products and applications, such as artificial lift systems, coatings, and other expendable items.
Receive News & Ratings for NOW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NOW and related companies with MarketBeat.com's FREE daily email newsletter.