Dril-Quip (DRQ) Posts Quarterly Earnings, Beats Expectations By $0.12 EPS
Dril-Quip (NYSE:DRQ) issued its quarterly earnings data on Wednesday. The company reported $1.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.15 by $0.12, StockRatingsNetwork.com reports. The company had revenue of $230.30 million for the quarter, compared to the consensus estimate of $228.09 million. During the same quarter in the prior year, the company posted $1.05 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Dril-Quip updated its Q3 guidance to $1.20-1.30 EPS and its FY14 guidance to $4.70-4.90 EPS.
Dril-Quip (NYSE:DRQ) traded down 3.80% during mid-day trading on Wednesday, hitting $101.65. The stock had a trading volume of 77,390 shares. Dril-Quip has a 52 week low of $90.79 and a 52 week high of $121.07. The stock’s 50-day moving average is $105.8 and its 200-day moving average is $105.5. The company has a market cap of $4.151 billion and a P/E ratio of 25.04.
DRQ has been the subject of a number of recent research reports. Analysts at Johnson Rice initiated coverage on shares of Dril-Quip in a research note on Tuesday, July 8th. They set an “equal weight” rating and a $120.00 price target on the stock. On the ratings front, analysts at Zacks reiterated a “neutral” rating on shares of Dril-Quip in a research note on Wednesday, June 25th. They now have a $111.00 price target on the stock. Finally, analysts at Guggenheim reiterated a “neutral” rating on shares of Dril-Quip in a research note on Wednesday, May 14th. They now have a $110.00 price target on the stock, down previously from $120.00. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $120.00.
Dril-Quip, Inc (NYSE:DRQ), designs, manufactures, sells and services offshore drilling and production equipment for use in deepwater, harsh environment and severe service applications.
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