Zacks: Analysts Anticipate DistributionNOW (DNOW) to Announce -$0.02 EPS

Equities analysts forecast that DistributionNOW (NYSE:DNOW) will announce earnings of ($0.02) per share for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for DistributionNOW’s earnings, with the lowest EPS estimate coming in at ($0.07) and the highest estimate coming in at $0.01. DistributionNOW posted earnings of ($0.15) per share during the same quarter last year, which indicates a positive year over year growth rate of 86.7%. The business is expected to announce its next quarterly earnings report before the market opens on Wednesday, May 2nd.

According to Zacks, analysts expect that DistributionNOW will report full year earnings of $0.07 per share for the current financial year, with EPS estimates ranging from ($0.05) to $0.21. For the next year, analysts anticipate that the company will post earnings of $0.38 per share, with EPS estimates ranging from $0.08 to $0.62. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover DistributionNOW.

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DistributionNOW (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, February 14th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.08. DistributionNOW had a negative return on equity of 2.46% and a negative net margin of 1.96%. The business had revenue of $669.00 million for the quarter, compared to analysts’ expectations of $690.62 million. During the same period in the previous year, the business posted ($0.29) EPS. The firm’s quarterly revenue was up 24.3% compared to the same quarter last year.

DNOW has been the topic of a number of research reports. Zacks Investment Research cut DistributionNOW from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Seaport Global Securities upgraded DistributionNOW from a “neutral” rating to a “buy” rating in a research note on Thursday, February 15th. They noted that the move was a valuation call. Credit Suisse Group restated a “neutral” rating and issued a $10.00 price objective (down from $12.00) on shares of DistributionNOW in a research note on Tuesday, February 27th. ValuEngine cut DistributionNOW from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Finally, Cowen lowered their price objective on DistributionNOW from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, February 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.50.

In related news, CEO Robert R. Workman bought 28,550 shares of DistributionNOW stock in a transaction on Tuesday, March 6th. The stock was acquired at an average price of $10.51 per share, with a total value of $300,060.50. Following the acquisition, the chief executive officer now directly owns 583,616 shares of the company’s stock, valued at $6,133,804.16. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.50% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in shares of DistributionNOW by 1.5% during the third quarter. Russell Investments Group Ltd. now owns 310,562 shares of the oil and gas company’s stock worth $4,289,000 after purchasing an additional 4,596 shares in the last quarter. General American Investors Co. Inc. grew its holdings in shares of DistributionNOW by 0.9% during the fourth quarter. General American Investors Co. Inc. now owns 559,403 shares of the oil and gas company’s stock worth $6,170,000 after purchasing an additional 5,199 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of DistributionNOW by 3.5% during the fourth quarter. Alliancebernstein L.P. now owns 169,976 shares of the oil and gas company’s stock worth $1,875,000 after purchasing an additional 5,710 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of DistributionNOW by 15.1% during the fourth quarter. D.A. Davidson & CO. now owns 45,010 shares of the oil and gas company’s stock worth $496,000 after purchasing an additional 5,911 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC grew its holdings in shares of DistributionNOW by 19.8% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 42,367 shares of the oil and gas company’s stock worth $467,000 after purchasing an additional 6,997 shares in the last quarter.

DistributionNOW stock traded down $0.02 during midday trading on Friday, reaching $10.99. The stock had a trading volume of 254,360 shares, compared to its average volume of 1,515,668. DistributionNOW has a 12 month low of $9.12 and a 12 month high of $18.37. The stock has a market capitalization of $1,155.93, a P/E ratio of -41.00 and a beta of 0.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.37 and a current ratio of 2.87.

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DistributionNOW Company Profile

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, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.

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Earnings History and Estimates for DistributionNOW (NYSE:DNOW)

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