Brokerages Anticipate Dril-Quip, Inc. (DRQ) Will Announce Quarterly Sales of $107.83 Million
Analysts expect Dril-Quip, Inc. (NYSE:DRQ) to announce sales of $107.83 million for the current quarter, according to Zacks. Two analysts have made estimates for Dril-Quip’s earnings, with the highest sales estimate coming in at $111.85 million and the lowest estimate coming in at $103.80 million. Dril-Quip posted sales of $123.64 million during the same quarter last year, which suggests a negative year over year growth rate of 12.8%. The business is scheduled to issue its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Dril-Quip will report full-year sales of $107.83 million for the current financial year, with estimates ranging from $445.10 million to $476.89 million. For the next fiscal year, analysts anticipate that the company will post sales of $413.38 million per share, with estimates ranging from $368.20 million to $501.24 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Dril-Quip.
Dril-Quip (NYSE:DRQ) last announced its earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.06. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The business had revenue of $127.90 million for the quarter, compared to analyst estimates of $112.12 million. During the same quarter last year, the business earned $0.96 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year.
Several equities research analysts recently issued reports on the stock. Barclays PLC cut shares of Dril-Quip from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $77.00 to $57.00 in a research report on Monday, May 1st. Zacks Investment Research upgraded shares of Dril-Quip from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. BidaskClub upgraded shares of Dril-Quip from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Piper Jaffray Companies set a $43.00 price objective on shares of Dril-Quip and gave the company a “hold” rating in a research note on Saturday, July 29th. Finally, Cowen and Company dropped their price objective on shares of Dril-Quip from $55.00 to $43.00 and set a “market perform” rating on the stock in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Dril-Quip has a consensus rating of “Hold” and an average target price of $56.00.
A number of large investors have recently modified their holdings of DRQ. Tyers Asset Management LLC boosted its stake in shares of Dril-Quip by 18.9% in the first quarter. Tyers Asset Management LLC now owns 1,936 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 308 shares during the period. TrimTabs Asset Management LLC boosted its stake in shares of Dril-Quip by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 2,003 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 944 shares during the period. Flinton Capital Management LLC boosted its stake in shares of Dril-Quip by 18.9% in the first quarter. Flinton Capital Management LLC now owns 2,464 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 392 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Dril-Quip by 17.6% in the second quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 450 shares during the period. Finally, Neuburgh Advisers LLC boosted its stake in shares of Dril-Quip by 18.9% in the first quarter. Neuburgh Advisers LLC now owns 2,992 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 476 shares during the period.
Dril-Quip (NYSE DRQ) opened at 41.95 on Wednesday. The company’s 50-day moving average is $48.70 and its 200-day moving average is $53.93. Dril-Quip has a 52-week low of $41.42 and a 52-week high of $69.40. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 77.97 and a beta of 0.63.
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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