Dril-Quip, Inc. (NYSE:DRQ) – Equities research analysts at FBR & Co dropped their FY2017 earnings per share (EPS) estimates for Dril-Quip in a research note issued on Tuesday. FBR & Co analyst T. Curran now anticipates that the oil and gas company will post earnings of $0.14 per share for the year, down from their prior estimate of $0.20. FBR & Co currently has a “Buy” rating and a $55.00 target price on the stock. FBR & Co also issued estimates for Dril-Quip’s FY2019 earnings at $1.20 EPS.

A number of other brokerages have also recently commented on DRQ. BidaskClub cut shares of Dril-Quip from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Cowen and Company set a $43.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a research report on Friday, October 6th. Scotiabank set a $61.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a research report on Monday, July 31st. Finally, Piper Jaffray Companies set a $43.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a research report on Saturday, July 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $53.86.

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Shares of Dril-Quip (NYSE DRQ) opened at 43.70 on Wednesday. The company’s 50-day moving average is $41.43 and its 200 day moving average is $47.56. Dril-Quip has a 52-week low of $35.85 and a 52-week high of $69.40. The firm has a market capitalization of $1.65 billion, a P/E ratio of 81.23 and a beta of 0.70.

Dril-Quip (NYSE:DRQ) last posted its earnings results on Friday, July 28th. The oil and gas company reported $0.09 EPS for the quarter, topping the 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 the consensus estimate of $112.12 million. During the same period last year, the company earned $0.96 EPS. The firm’s revenue was down 10.2% compared to the same quarter last year.

A number of hedge funds have recently made changes to their positions in the stock. QS Investors LLC lifted its stake in Dril-Quip by 0.5% in the second quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 13 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its stake in Dril-Quip by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,548 shares of the oil and gas company’s stock worth $383,000 after acquiring an additional 33 shares during the period. Metropolitan Life Insurance Co. NY lifted its stake in Dril-Quip by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 35,235 shares of the oil and gas company’s stock worth $1,922,000 after acquiring an additional 114 shares during the period. Commerce Bank lifted its stake in Dril-Quip by 3.1% in the second quarter. Commerce Bank now owns 5,125 shares of the oil and gas company’s stock worth $250,000 after acquiring an additional 155 shares during the period. Finally, Advantus Capital Management Inc lifted its stake in Dril-Quip by 3.6% in the first quarter. Advantus Capital Management Inc now owns 4,840 shares of the oil and gas company’s stock worth $264,000 after acquiring an additional 170 shares during the period.

In other news, VP James C. Webster sold 2,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $43.49, for a total transaction of $86,980.00. Following the completion of the sale, the vice president now owns 24,104 shares of the company’s stock, valued at $1,048,282.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.87% of the company’s stock.

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.

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

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