Zacks: Brokerages Expect Superior Drilling Products, Inc. (SDPI) Will Post Quarterly Sales of $4.13 Million
Wall Street analysts forecast that Superior Drilling Products, Inc. (NASDAQ:SDPI) will announce sales of $4.13 million for the current quarter, according to Zacks. Two analysts have made estimates for Superior Drilling Products’ earnings, with the highest sales estimate coming in at $4.15 million and the lowest estimate coming in at $4.10 million. Superior Drilling Products reported sales of $2.26 million during the same quarter last year, which would suggest a positive year over year growth rate of 82.7%. The company is scheduled to announce its next earnings results on Monday, November 13th.
According to Zacks, analysts expect that Superior Drilling Products will report full-year sales of $4.13 million for the current financial year, with estimates ranging from $15.30 million to $15.82 million. For the next year, analysts expect that the firm will report sales of $21.46 million per share. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Superior Drilling Products.
Superior Drilling Products (NASDAQ:SDPI) last issued its earnings results on Friday, August 11th. The oil and gas company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The business had revenue of $4.05 million for the quarter, compared to analyst estimates of $3.80 million.
SDPI has been the topic of a number of research analyst reports. Roth Capital set a $2.00 target price on Superior Drilling Products and gave the stock a “buy” rating in a report on Monday, August 14th. Zacks Investment Research upgraded Superior Drilling Products from a “hold” rating to a “buy” rating and set a $0.75 price target on the stock in a research report on Wednesday, July 26th. Imperial Capital initiated coverage on Superior Drilling Products in a research report on Wednesday, August 23rd. They issued an “outperform” rating and a $2.00 target price on the stock. Finally, ValuEngine cut Superior Drilling Products from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Superior Drilling Products has a consensus rating of “Buy” and an average target price of $1.69.
Superior Drilling Products (NASDAQ:SDPI) opened at 0.69 on Friday. The firm’s market cap is $10.38 million. The firm’s 50-day moving average price is $0.72 and its 200 day moving average price is $0.79. Superior Drilling Products has a 52-week low of $0.59 and a 52-week high of $1.41.
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About Superior Drilling Products
Superior Drilling Products, Inc, a drilling and completion tool technology company, innovates, designs, engineers, manufactures, sells, rents, and repairs drilling and completion tools in the United States and internationally. It is involved in the design and manufacture of new drill bit and horizontal drill string enhancement tools for the oil, natural gas, and mining services industries; and the refurbishment of polycrystalline diamond compact drill bits.
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