FBR & Co Equities Analysts Reduce Earnings Estimates for Dril-Quip, Inc. (DRQ)
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.
COPYRIGHT VIOLATION NOTICE: This piece was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/11/fbr-co-equities-analysts-reduce-earnings-estimates-for-dril-quip-inc-drq.html.
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.
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.
Receive News & Ratings for Dril-Quip Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dril-Quip Inc. and related companies with MarketBeat.com's FREE daily email newsletter.