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Why the Market Dipped But DNOW (DNOW) Gained Today
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DNOW (DNOW - Free Report) closed the latest trading day at $15.43, indicating a +1.78% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the energy and industrial distribution company had gained 2.92% in the past month. In that same time, the Industrial Products sector gained 6.82%, while the S&P 500 gained 2.57%.
The investment community will be paying close attention to the earnings performance of DNOW in its upcoming release. On that day, DNOW is projected to report earnings of $0.23 per share, which would represent a year-over-year decline of 8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $571.6 million, down 2.12% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.02 per share and a revenue of $2.39 billion, representing changes of +5.15% and +2.82%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for DNOW. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, DNOW holds a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, DNOW is holding a Forward P/E ratio of 14.86. This indicates a discount in contrast to its industry's Forward P/E of 20.05.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 70, positioning it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Why the Market Dipped But DNOW (DNOW) Gained Today
DNOW (DNOW - Free Report) closed the latest trading day at $15.43, indicating a +1.78% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the energy and industrial distribution company had gained 2.92% in the past month. In that same time, the Industrial Products sector gained 6.82%, while the S&P 500 gained 2.57%.
The investment community will be paying close attention to the earnings performance of DNOW in its upcoming release. On that day, DNOW is projected to report earnings of $0.23 per share, which would represent a year-over-year decline of 8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $571.6 million, down 2.12% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.02 per share and a revenue of $2.39 billion, representing changes of +5.15% and +2.82%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for DNOW. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, DNOW holds a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, DNOW is holding a Forward P/E ratio of 14.86. This indicates a discount in contrast to its industry's Forward P/E of 20.05.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 70, positioning it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.