Dril-Quip, Inc. (NYSE:DRQ) – Stock analysts at Gabelli lifted their FY2019 earnings estimates for Dril-Quip in a note issued to investors on Tuesday. Gabelli analyst S. Wong now expects that the oil and gas company will post earnings of $0.80 per share for the year, up from their prior forecast of $0.70. Gabelli has a “Hold” rating and a $43.00 price objective on the stock. Gabelli also issued estimates for Dril-Quip’s FY2020 earnings at $1.60 EPS.

Dril-Quip (NYSE:DRQ) last issued its earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. The business had revenue of $100.35 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $0.63 EPS.

COPYRIGHT VIOLATION WARNING: This article was published by American Banking News and is the property of of American Banking News. If you are accessing this article on another domain, it was stolen and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/11/02/equities-analysts-offer-predictions-for-dril-quip-inc-s-fy2019-earnings-drq.html.

DRQ has been the topic of a number of other research reports. Cowen and Company set a $43.00 price target on Dril-Quip and gave the company a “hold” rating in a research note on Friday, October 6th. Scotiabank set a $61.00 price target on Dril-Quip and gave the company a “hold” rating in a research note on Monday, July 31st. BidaskClub downgraded Dril-Quip from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. FBR & Co reissued a “buy” rating on shares of Dril-Quip in a research note on Friday, October 27th. Finally, Piper Jaffray Companies set a $43.00 price target on Dril-Quip and gave the company a “hold” rating in a research note on Saturday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $50.50.

Large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Dril-Quip by 8,615.2% in the 1st quarter. BlackRock Inc. now owns 3,581,432 shares of the oil and gas company’s stock valued at $195,368,000 after purchasing an additional 3,540,338 shares during the last quarter. UBS Group AG lifted its stake in Dril-Quip by 2.7% in the 1st quarter. UBS Group AG now owns 38,635 shares of the oil and gas company’s stock valued at $2,108,000 after purchasing an additional 1,002 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Dril-Quip in the 2nd quarter valued at about $3,652,000. State Street Corp lifted its stake in Dril-Quip by 2.7% in the 1st quarter. State Street Corp now owns 1,180,848 shares of the oil and gas company’s stock valued at $64,416,000 after purchasing an additional 31,362 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Dril-Quip by 0.5% in the 2nd quarter. American Century Companies Inc. now owns 879,376 shares of the oil and gas company’s stock valued at $42,914,000 after purchasing an additional 3,963 shares during the last quarter.

In related news, VP James C. Webster sold 4,890 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $41.49, for a total value of $202,886.10. Following the completion of the sale, the vice president now directly owns 34,947 shares in the company, valued at approximately $1,449,951.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James C. Webster sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 37,662 shares of company stock valued at $1,567,399 over the last quarter. 0.87% of the stock is currently owned by company insiders.

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)

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.