Equities analysts predict that Dril-Quip, Inc. (NYSE:DRQ) will post $0.01 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Dril-Quip’s earnings. The highest EPS estimate is $0.07 and the lowest is ($0.05). Dril-Quip posted earnings of ($0.20) per share in the same quarter last year, which indicates a positive year over year growth rate of 105%. The business is scheduled to report its next quarterly earnings results on Thursday, October 24th.
According to Zacks, analysts expect that Dril-Quip will report full-year earnings of $0.21 per share for the current fiscal year, with EPS estimates ranging from $0.02 to $0.35. For the next year, analysts forecast that the firm will report earnings of $1.13 per share, with EPS estimates ranging from $0.43 to $1.60. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Dril-Quip.
Dril-Quip (NYSE:DRQ) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). Dril-Quip had a negative net margin of 23.06% and a negative return on equity of 1.04%. The company had revenue of $104.00 million during the quarter, compared to analyst estimates of $97.19 million. During the same quarter last year, the company posted ($0.24) EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis.
A number of brokerages recently commented on DRQ. ValuEngine upgraded shares of Dril-Quip from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. TheStreet upgraded shares of Dril-Quip from a “d+” rating to a “c-” rating in a research report on Tuesday, July 30th. B. Riley increased their target price on shares of Dril-Quip from $48.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Finally, Zacks Investment Research lowered shares of Dril-Quip from a “buy” rating to a “hold” rating and set a $55.00 target price on the stock. in a research report on Monday, July 29th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $47.21.
DRQ traded down $0.48 on Monday, reaching $50.23. The company had a trading volume of 6,689 shares, compared to its average volume of 350,503. Dril-Quip has a fifty-two week low of $26.62 and a fifty-two week high of $56.71. The stock has a market cap of $1.88 billion, a P/E ratio of -79.37 and a beta of 1.52. The company’s fifty day moving average is $49.15 and its 200 day moving average is $45.79.
In other news, insider Blake T. Deberry sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $51.63, for a total transaction of $516,300.00. Following the completion of the sale, the insider now owns 149,242 shares of the company’s stock, valued at approximately $7,705,364.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.97% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Kavar Capital Partners LLC bought a new stake in shares of Dril-Quip during the 2nd quarter worth approximately $27,000. NumerixS Investment Technologies Inc lifted its stake in Dril-Quip by 450.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,100 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 900 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Dril-Quip in the 2nd quarter valued at approximately $62,000. GYL Financial Synergies LLC bought a new position in Dril-Quip in the 1st quarter valued at approximately $221,000. Finally, Commerce Bank bought a new position in Dril-Quip in the 1st quarter valued at approximately $232,000.
Dril-Quip Company Profile
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.
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