Wall Street brokerages forecast that Dril-Quip, Inc. (NYSE:DRQ) will post earnings of $0.02 per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Dril-Quip’s earnings, with the lowest EPS estimate coming in at ($0.03) and the highest estimate coming in at $0.06. Dril-Quip reported earnings of $0.39 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 94.9%. The firm is expected to report its next earnings results on Thursday, October 26th.

On average, analysts expect that Dril-Quip will report full-year earnings of $0.12 per share for the current year, with EPS estimates ranging from ($0.01) to $0.21. For the next year, analysts anticipate that the company will post earnings of $0.34 per share, with EPS estimates ranging from ($0.22) to $0.82. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Dril-Quip.

Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.06. The firm had revenue of $127.90 million for the quarter, compared to the consensus estimate of $112.12 million. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.96 EPS.

DRQ has been the topic of a number of recent research reports. Barclays PLC cut Dril-Quip from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $77.00 to $57.00 in a research note on Monday, May 1st. 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. Piper Jaffray Companies set a $43.00 target price on Dril-Quip and gave the stock a “hold” rating in a research note on Saturday, July 29th. Finally, Scotiabank set a $61.00 target price on Dril-Quip and gave the stock a “hold” rating in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $56.00.

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in 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 during the period. Dimensional Fund Advisors LP boosted its stake in 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 during the period. Dalton Greiner Hartman Maher & Co. acquired a new stake in Dril-Quip during the first quarter valued at approximately $17,129,000. Gamco Investors INC. ET AL acquired a new stake in Dril-Quip during the second quarter valued at approximately $13,762,000. Finally, Clearbridge Investments LLC boosted its stake in Dril-Quip by 43.7% in the first quarter. Clearbridge Investments LLC now owns 744,200 shares of the oil and gas company’s stock valued at $40,596,000 after buying an additional 226,200 shares during the period.

Dril-Quip (NYSE DRQ) opened at 42.60 on Monday. The stock has a market capitalization of $1.61 billion, a P/E ratio of 79.18 and a beta of 0.63. Dril-Quip has a 12-month low of $42.35 and a 12-month high of $69.40. The firm’s 50-day moving average is $49.45 and its 200-day moving average is $54.17.

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

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