Zacks: Analysts Expect Dril-Quip, Inc. (NYSE:DRQ) to Post $0.14 Earnings Per Share

Wall Street analysts forecast that Dril-Quip, Inc. (NYSE:DRQ) will report $0.14 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Dril-Quip’s earnings. The lowest EPS estimate is $0.08 and the highest is $0.22. Dril-Quip posted 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 business is scheduled to announce its next quarterly 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 anticipate that the firm will post earnings of $1.10 per share, with EPS estimates ranging from $0.82 to $1.35. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Dril-Quip.

Dril-Quip (NYSE:DRQ) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.19). Dril-Quip had a negative net margin of 19.96% and a negative return on equity of 0.58%. The company had revenue of $108.23 million during the quarter, compared to analyst estimates of $103.17 million. During the same period in the previous year, the firm posted ($0.20) earnings per share. The company’s revenue was up 16.1% compared to the same quarter last year.

Several research analysts have recently weighed in on the company. Evercore ISI reaffirmed a “buy” rating and set a $53.00 target price on shares of Dril-Quip in a research note on Monday, November 11th. ValuEngine downgraded Dril-Quip from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. TheStreet raised Dril-Quip from a “d+” rating to a “c-” rating in a research note on Tuesday, July 30th. Zacks Investment Research downgraded Dril-Quip from a “buy” rating to a “hold” rating and set a $55.00 target price for the company. in a research note on Monday, July 29th. Finally, Morgan Stanley reduced their target price on Dril-Quip from $45.00 to $42.00 and set an “underweight” rating for the company in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $47.31.

In related news, VP Raj Kumar sold 819 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $43.61, for a total value of $35,716.59. Following the completion of the transaction, the vice president now directly owns 11,774 shares of the company’s stock, valued at approximately $513,464.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Blake T. Deberry sold 29,086 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $43.59, for a total value of $1,267,858.74. Following the completion of the transaction, the chief executive officer now directly owns 170,681 shares of the company’s stock, valued at $7,439,984.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,981 shares of company stock valued at $2,669,275. Corporate insiders own 0.97% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of DRQ. Kavar Capital Partners LLC acquired a new position in Dril-Quip in the 2nd quarter valued at $27,000. NumerixS Investment Technologies Inc raised 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. acquired a new position in Dril-Quip in the 2nd quarter valued at $62,000. Russell Investments Group Ltd. acquired a new position in Dril-Quip in the 3rd quarter valued at $113,000. Finally, ARP Americas LP acquired a new position in Dril-Quip in the 3rd quarter valued at $271,000.

NYSE:DRQ traded down $1.33 during trading hours on Friday, reaching $43.59. The company had a trading volume of 261,417 shares, compared to its average volume of 424,120. Dril-Quip has a 1-year low of $26.62 and a 1-year high of $56.71. The firm has a market cap of $1.60 billion, a PE ratio of -69.19 and a beta of 1.47. The business’s 50 day moving average price is $46.53 and its 200-day moving average price is $46.23.

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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Earnings History and Estimates for Dril-Quip (NYSE:DRQ)

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