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DNOW (DNOW) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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DNOW (DNOW - Free Report) closed the latest trading day at $13.89, indicating a -1.56% change from the previous session's end. This move lagged the S&P 500's daily loss of 0.34%. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, lost 0.33%.
Shares of the energy and industrial distribution company witnessed a loss of 6% over the previous month, beating the performance of the Industrial Products sector with its loss of 6.08% and underperforming the S&P 500's loss of 4.05%.
The upcoming earnings release of DNOW will be of great interest to investors. The company's earnings report is expected on May 10, 2024. In that report, analysts expect DNOW to post earnings of $0.24 per share. This would mark a year-over-year decline of 4%. At the same time, our most recent consensus estimate is projecting a revenue of $571.6 million, reflecting a 2.12% fall from the equivalent quarter last year.
DNOW's full-year Zacks Consensus Estimates are calling for earnings of $1.04 per share and revenue of $2.38 billion. These results would represent year-over-year changes of +7.22% and +2.68%, respectively.
Investors should also note any recent changes to analyst estimates for DNOW. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.29% upward. Currently, DNOW is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, DNOW is currently being traded at a Forward P/E ratio of 13.52. This expresses a discount compared to the average Forward P/E of 19.48 of its industry.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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DNOW (DNOW) Sees a More Significant Dip Than Broader Market: Some Facts to Know
DNOW (DNOW - Free Report) closed the latest trading day at $13.89, indicating a -1.56% change from the previous session's end. This move lagged the S&P 500's daily loss of 0.34%. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, lost 0.33%.
Shares of the energy and industrial distribution company witnessed a loss of 6% over the previous month, beating the performance of the Industrial Products sector with its loss of 6.08% and underperforming the S&P 500's loss of 4.05%.
The upcoming earnings release of DNOW will be of great interest to investors. The company's earnings report is expected on May 10, 2024. In that report, analysts expect DNOW to post earnings of $0.24 per share. This would mark a year-over-year decline of 4%. At the same time, our most recent consensus estimate is projecting a revenue of $571.6 million, reflecting a 2.12% fall from the equivalent quarter last year.
DNOW's full-year Zacks Consensus Estimates are calling for earnings of $1.04 per share and revenue of $2.38 billion. These results would represent year-over-year changes of +7.22% and +2.68%, respectively.
Investors should also note any recent changes to analyst estimates for DNOW. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.29% upward. Currently, DNOW is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, DNOW is currently being traded at a Forward P/E ratio of 13.52. This expresses a discount compared to the average Forward P/E of 19.48 of its industry.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.