Analysts Anticipate Dril-Quip, Inc. (NYSE:DRQ) to Post $0.01 Earnings Per Share
Wall Street analysts forecast that Dril-Quip, Inc. (NYSE:DRQ) will report $0.01 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Dril-Quip’s earnings, with the lowest EPS estimate coming in at ($0.01) and the highest estimate coming in at $0.04. Dril-Quip reported earnings per share of $0.64 in the same quarter last year, which indicates a negative year over year growth rate of 98.4%. The business is scheduled to issue its next quarterly earnings results on Friday, August 4th.
According to Zacks, analysts expect that Dril-Quip will report full year earnings of $0.16 per share for the current financial year, with EPS estimates ranging from $0.12 to $0.20. For the next fiscal year, analysts expect that the company will report earnings of $0.74 per share, with EPS estimates ranging from $0.30 to $1.15. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Dril-Quip.
Dril-Quip (NYSE:DRQ) last released its earnings results on Thursday, April 27th. The oil and gas company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The firm had revenue of $119.23 million during the quarter, compared to the consensus estimate of $97.62 million. Dril-Quip had a net margin of 11.51% and a return on equity of 3.65%. The company’s revenue was down 28.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 EPS.
A number of equities research analysts have commented on the company. BidaskClub raised Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Finally, Barclays PLC cut Dril-Quip from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $77.00 to $57.00 in a research note on Monday, May 1st. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $63.29.
Dril-Quip (NYSE DRQ) traded up 0.20% during midday trading on Monday, reaching $50.80. The company’s stock had a trading volume of 394,338 shares. The firm has a 50 day moving average of $51.00 and a 200 day moving average of $56.29. The firm has a market cap of $1.92 billion, a P/E ratio of 33.89 and a beta of 0.65. Dril-Quip has a 52-week low of $46.60 and a 52-week high of $69.40.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC bought a new position in Dril-Quip during the first quarter worth $483,000. Norges Bank bought a new position in Dril-Quip during the fourth quarter worth $24,435,000. Russell Investments Group Ltd. bought a new position in Dril-Quip during the fourth quarter worth $2,190,000. Guggenheim Capital LLC raised its position in Dril-Quip by 48.8% in the fourth quarter. Guggenheim Capital LLC now owns 42,447 shares of the oil and gas company’s stock worth $2,549,000 after buying an additional 13,914 shares in the last quarter. Finally, Boston Partners raised its position in Dril-Quip by 20.3% in the first quarter. Boston Partners now owns 357,477 shares of the oil and gas company’s stock worth $19,500,000 after buying an additional 60,286 shares in the last quarter.
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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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