Equities research analysts predict that Dril-Quip, Inc. (NYSE:DRQ) will announce $104.3 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Dril-Quip’s earnings, with estimates ranging from $101.6 million to $107 million. Dril-Quip posted sales of $142.44 million during the same quarter last year, which suggests a negative year over year growth rate of 26.8%. The company is scheduled to announce its next earnings report on Friday, August 4th.

According to Zacks, analysts expect that Dril-Quip will report full-year sales of $104.3 million for the current fiscal year, with estimates ranging from $420.89 million to $476.91 million. For the next fiscal year, analysts forecast that the business will report sales of $491.55 million per share, with estimates ranging from $462.45 million to $506.3 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Dril-Quip.

Dril-Quip (NYSE:DRQ) last released its earnings results on Thursday, April 27th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.01. The firm had revenue of $119.23 million for the quarter, compared to the consensus estimate of $97.62 million. Dril-Quip had a return on equity of 8.51% and a net margin of 22.12%. Dril-Quip’s revenue for the quarter was down 28.4% on a year-over-year basis. During the same quarter last year, the company posted $0.97 EPS.

Several equities analysts recently issued reports on DRQ shares. Guggenheim lowered shares of Dril-Quip from a “buy” rating to a “neutral” rating in a report on Wednesday, March 1st. Zacks Investment Research upgraded shares of Dril-Quip from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Thursday, February 23rd. Barclays PLC lowered shares of Dril-Quip from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $77.00 to $57.00 in a report on Monday, May 1st. Finally, Scotiabank set a $65.00 target price on shares of Dril-Quip and gave the company a “hold” rating in a report on Thursday, March 2nd. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $62.00.

Dril-Quip (NYSE:DRQ) opened at 50.25 on Friday. The company has a market cap of $1.90 billion, a PE ratio of 33.52 and a beta of 0.73. Dril-Quip has a 12-month low of $46.90 and a 12-month high of $69.40. The firm’s 50-day moving average price is $52.30 and its 200-day moving average price is $57.04.

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Several institutional investors have recently made changes to their positions in DRQ. FMR LLC raised its position in shares of Dril-Quip by 0.6% in the first quarter. FMR LLC now owns 5,073,126 shares of the oil and gas company’s stock valued at $276,739,000 after buying an additional 30,340 shares in the last quarter. BlackRock Inc. raised its position in shares of Dril-Quip by 8,615.2% in the first quarter. BlackRock Inc. now owns 3,581,432 shares of the oil and gas company’s stock valued at $195,368,000 after buying an additional 3,540,338 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Dril-Quip by 4.2% in the first quarter. Vanguard Group Inc. now owns 3,108,114 shares of the oil and gas company’s stock valued at $169,548,000 after buying an additional 124,962 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Dril-Quip by 31.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,455,193 shares of the oil and gas company’s stock valued at $133,929,000 after buying an additional 587,520 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Dril-Quip by 8.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,216,122 shares of the oil and gas company’s stock valued at $120,889,000 after buying an additional 167,173 shares in the last quarter.

About Dril-Quip

Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment. The Company’s operations are organized into three geographic segments: Western Hemisphere, including North and South America, headquartered in Houston, Texas; Eastern Hemisphere, including Europe and Africa, headquartered in Aberdeen, Scotland, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East, headquartered in Singapore.

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