FBR & Co Analysts Boost Earnings Estimates for Dril-Quip, Inc. (DRQ)
Dril-Quip, Inc. (NYSE:DRQ) – Equities research analysts at FBR & Co upped their FY2017 earnings per share (EPS) estimates for Dril-Quip in a note issued to investors on Monday. FBR & Co analyst T. Curran now anticipates that the oil and gas company will earn $0.27 per share for the year, up from their previous estimate of $0.14. FBR & Co currently has a “Buy” rating on the stock. FBR & Co also issued estimates for Dril-Quip’s Q1 2018 earnings at $0.04 EPS and Q2 2018 earnings at $0.11 EPS.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06. The business had revenue of $100.35 million during the quarter, compared to the consensus estimate of $106.74 million. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The company’s quarterly revenue was down 18.8% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share. WARNING: This article was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/11/01/fbr-co-analysts-boost-earnings-estimates-for-dril-quip-inc-drq.html.
A number of other research firms also recently issued reports on DRQ. BidaskClub downgraded Dril-Quip from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Cowen and Company dropped their price target on 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. Piper Jaffray Companies set a $43.00 price target on Dril-Quip and gave the stock a “hold” rating in a research note on Saturday, July 29th. Scotiabank set a $61.00 price target on Dril-Quip and gave the stock a “hold” rating in a research note on Monday, July 31st. Finally, Wolfe Research upgraded Dril-Quip from an “underperform” rating to a “market perform” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Dril-Quip presently has a consensus rating of “Hold” and an average price target of $51.00.
Shares of Dril-Quip (NYSE DRQ) opened at 42.70 on Wednesday. The firm has a 50-day moving average price of $42.72 and a 200 day moving average price of $46.30. The firm has a market cap of $1.62 billion, a P/E ratio of 79.37 and a beta of 0.70. Dril-Quip has a one year low of $35.85 and a one year high of $69.40.
Institutional investors have recently bought and sold shares of the business. Riverhead Capital Management LLC lifted its position in Dril-Quip by 66.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,663 shares of the oil and gas company’s stock worth $130,000 after acquiring an additional 1,063 shares during the period. QS Investors LLC lifted its position in Dril-Quip by 0.5% during the 2nd 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. LS Investment Advisors LLC lifted its position in Dril-Quip by 17.6% during the 2nd quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock worth $147,000 after acquiring an additional 450 shares during the period. Flinton Capital Management LLC lifted its position in Dril-Quip by 64.8% during the 2nd quarter. Flinton Capital Management LLC now owns 4,060 shares of the oil and gas company’s stock worth $198,000 after acquiring an additional 1,596 shares during the period. Finally, ING Groep NV acquired a new stake in Dril-Quip during the 2nd quarter worth approximately $225,000.
In other Dril-Quip 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 directly owns 24,104 shares of the company’s stock, valued at approximately $1,048,282.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Blake T. Deberry sold 14,819 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $41.49, for a total value of $614,840.31. Following the sale, the insider now directly owns 113,175 shares of the company’s stock, valued at $4,695,630.75. The disclosure for this sale can be found here. Insiders have sold a total of 37,662 shares of company stock valued at $1,567,399 over the last ninety days. 0.87% of the stock is owned by insiders.
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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