Capital One Financial Corporation Comments on Dril-Quip, Inc.’s Q3 2017 Earnings (DRQ)
Dril-Quip, Inc. (NYSE:DRQ) – Equities researchers at Capital One Financial Corporation lifted their Q3 2017 earnings per share (EPS) estimates for shares of Dril-Quip in a report released on Wednesday. Capital One Financial Corporation analyst J. Gibney now anticipates that the oil and gas company will post earnings per share of $0.02 for the quarter, up from their previous estimate of ($0.02). Capital One Financial Corporation also issued estimates for Dril-Quip’s Q4 2017 earnings at ($0.04) EPS, FY2017 earnings at $0.11 EPS, Q2 2018 earnings at ($0.09) EPS, Q3 2018 earnings at ($0.01) EPS, Q4 2018 earnings at $0.02 EPS and FY2018 earnings at ($0.15) EPS.
DRQ has been the topic of a number of other research reports. Cowen and Company cut 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 report on Monday, July 31st. BidaskClub lowered shares of Dril-Quip from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Scotiabank set a $61.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a research report on Monday, July 31st. Finally, Piper Jaffray Companies set a $43.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a research report on Saturday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $56.00.
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Dril-Quip (NYSE:DRQ) opened at 40.30 on Monday. Dril-Quip has a 52 week low of $35.85 and a 52 week high of $69.40. The stock’s 50 day moving average is $41.22 and its 200 day moving average is $49.79. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 74.91 and a beta of 0.67.
Dril-Quip (NYSE:DRQ) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.09 EPS for the quarter, topping 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 company had revenue of $127.90 million for the quarter, compared to analyst estimates of $112.12 million. During the same quarter in the prior year, the business posted $0.96 EPS. Dril-Quip’s quarterly revenue was down 10.2% on a year-over-year basis.
Hedge funds have recently made changes to their positions in the company. Tyers Asset Management LLC lifted its position 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 worth $106,000 after purchasing an additional 308 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in Dril-Quip by 66.4% during the second quarter. Riverhead Capital Management LLC now owns 2,663 shares of the oil and gas company’s stock worth $130,000 after buying an additional 1,063 shares during the last quarter. Flinton Capital Management LLC increased its holdings in Dril-Quip by 18.9% during the first quarter. Flinton Capital Management LLC now owns 2,464 shares of the oil and gas company’s stock worth $134,000 after buying an additional 392 shares during the last quarter. QS Investors LLC increased its holdings in Dril-Quip by 0.5% during the second quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock worth $137,000 after buying an additional 13 shares during the last quarter. Finally, LS Investment Advisors LLC increased its holdings in Dril-Quip by 17.6% during the second quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock worth $147,000 after buying an additional 450 shares during the last quarter.
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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