Brokerages expect Dril-Quip, Inc. (NYSE:DRQ) to announce earnings of $0.14 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Dril-Quip’s earnings. The highest EPS estimate is $0.22 and the lowest is $0.08. Dril-Quip reported earnings of ($0.04) per share in the same quarter last year, which would suggest a positive year over year growth rate of 450%. The firm is expected to issue its next earnings results on Tuesday, February 25th.
According to Zacks, analysts expect that Dril-Quip will report full year earnings of $0.04 per share for the current financial year, with EPS estimates ranging from ($0.03) to $0.12. For the next fiscal year, analysts forecast that the firm will report earnings of $1.11 per share, with EPS estimates ranging from $0.85 to $1.35. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Dril-Quip.
Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.19). Dril-Quip had a negative return on equity of 0.58% and a negative net margin of 19.96%. The firm had revenue of $108.23 million for the quarter, compared to the consensus estimate of $103.17 million. During the same quarter last year, the firm earned ($0.20) EPS. The company’s revenue was up 16.1% compared to the same quarter last year.
A number of brokerages have recently issued reports on DRQ. Wolfe Research began coverage on Dril-Quip in a research report on Wednesday, November 27th. They set an “underperform” rating and a $43.00 price target on the stock. Morgan Stanley lowered their price objective on Dril-Quip from $45.00 to $42.00 and set an “underweight” rating for the company in a research report on Tuesday, October 8th. B. Riley raised their price objective on Dril-Quip from $48.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. ValuEngine downgraded Dril-Quip from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Evercore ISI reaffirmed a “buy” rating and set a $53.00 target price on shares of Dril-Quip in a research report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.69.
In other Dril-Quip news, CEO Blake T. Deberry sold 4,233 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $44.70, for a total transaction of $189,215.10. Following the transaction, the chief executive officer now owns 191,024 shares in the company, valued at approximately $8,538,772.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey J. Bird sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $48.91, for a total transaction of $146,730.00. Following the completion of the transaction, the chief financial officer now directly owns 33,826 shares of the company’s stock, valued at approximately $1,654,429.66. The disclosure for this sale can be found here. Insiders sold a total of 59,981 shares of company stock valued at $2,669,275 over the last quarter. 0.97% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in Dril-Quip by 0.6% during the 2nd quarter. BlackRock Inc. now owns 5,503,378 shares of the oil and gas company’s stock worth $264,161,000 after acquiring an additional 32,727 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Dril-Quip by 2.5% during the second quarter. Vanguard Group Inc. now owns 3,897,604 shares of the oil and gas company’s stock worth $187,085,000 after purchasing an additional 95,017 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Dril-Quip by 5.2% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,770,299 shares of the oil and gas company’s stock worth $180,975,000 after purchasing an additional 187,762 shares during the period. Northern Trust Corp boosted its position in Dril-Quip by 1.9% in the second quarter. Northern Trust Corp now owns 975,508 shares of the oil and gas company’s stock valued at $46,823,000 after buying an additional 18,187 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Dril-Quip by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 810,680 shares of the oil and gas company’s stock valued at $38,913,000 after buying an additional 28,071 shares during the last quarter.
Shares of DRQ opened at $44.91 on Friday. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -71.29 and a beta of 1.50. Dril-Quip has a twelve month low of $26.62 and a twelve month high of $56.71. The company has a 50 day moving average of $44.34 and a two-hundred day moving average of $46.32.
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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