Dril-Quip (NYSE:DRQ) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Dril-Quip (NYSE:DRQ) announced its quarterly earnings results on Thursday. The oil and gas company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01), Briefing.com reports. The firm had revenue of $104.00 million for the quarter, compared to the consensus estimate of $97.19 million. Dril-Quip had a negative net margin of 24.85% and a negative return on equity of 1.88%. Dril-Quip’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the business earned ($0.24) EPS.

NYSE:DRQ traded up $4.85 during trading hours on Friday, reaching $52.05. The company had a trading volume of 529,296 shares, compared to its average volume of 464,964. Dril-Quip has a 52 week low of $26.62 and a 52 week high of $55.05. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -82.62 and a beta of 1.48. The company’s 50 day simple moving average is $45.29.

Several brokerages recently weighed in on DRQ. ValuEngine raised shares of Worldline from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research downgraded shares of GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a research report on Monday, May 6th. Gabelli raised shares of Dril-Quip from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Finally, Cowen reissued a “buy” rating and set a $220.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Dril-Quip has a consensus rating of “Hold” and a consensus price target of $44.37.

About Dril-Quip

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services onshore and offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. It operates through three segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific.

See Also: Quiet Period

Earnings History for Dril-Quip (NYSE:DRQ)

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