NOW (DNOW) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

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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.

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About NOW

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.

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Earnings History for NOW (NYSE:DNOW)

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