Dril-Quip (NYSE:DRQ) Issues Quarterly Earnings Results

Dril-Quip (NYSE:DRQ) announced its quarterly earnings results on Thursday. The oil and gas company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.23), MarketWatch Earnings reports. The firm had revenue of $90.45 million for the quarter, compared to analysts’ expectations of $81.60 million. Dril-Quip had a negative return on equity of 0.66% and a negative net margin of 6.88%. During the same period last year, the firm earned $0.03 EPS.

DRQ traded down $1.37 during trading on Friday, hitting $33.29. The company’s stock had a trading volume of 355,036 shares, compared to its average volume of 236,722. The firm’s 50 day moving average price is $31.39 and its 200-day moving average price is $34.02. The stock has a market cap of $1.17 billion, a PE ratio of -42.68 and a beta of 1.35. Dril-Quip has a twelve month low of $23.91 and a twelve month high of $56.71.

Several brokerages have recently commented on DRQ. B. Riley decreased their price target on Dril-Quip from $45.00 to $33.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. ValuEngine raised Dril-Quip from a “hold” rating to a “buy” rating in a research note on Saturday. Scotiabank lowered Dril-Quip from a “sector outperform” rating to a “sector perform” rating and set a $28.00 price target on the stock. in a research note on Thursday, July 16th. G.Research lowered Dril-Quip from a “buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, Cowen reduced their target price on Dril-Quip from $32.00 to $29.00 and set a “market perform” rating on the stock in a research note on Friday, May 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $36.40.

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 for Dril-Quip (NYSE:DRQ)

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