Brokerages Anticipate Superior Drilling Products, Inc. (SDPI) Will Post Quarterly Sales of $4.13 Million
Brokerages expect that Superior Drilling Products, Inc. (NASDAQ:SDPI) will announce $4.13 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Superior Drilling Products’ earnings. The lowest sales estimate is $4.10 million and the highest is $4.15 million. Superior Drilling Products reported sales of $2.26 million during the same quarter last year, which would suggest a positive year over year growth rate of 82.7%. The company is scheduled to issue its next quarterly earnings report before the market opens on Thursday, November 9th.
On average, analysts expect that Superior Drilling Products will report full year sales of $4.13 million for the current year, with estimates ranging from $15.30 million to $15.82 million. For the next year, analysts anticipate that the firm will report sales of $21.46 million per share. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Superior Drilling Products.
Superior Drilling Products (NASDAQ:SDPI) last issued its quarterly earnings data on Friday, August 11th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $4.05 million for the quarter, compared to the consensus estimate of $3.80 million.
Several research firms recently commented on SDPI. Roth Capital set a $2.00 price target on shares of Superior Drilling Products and gave the company a “buy” rating in a research report on Monday, August 14th. ValuEngine upgraded shares of Superior Drilling Products from a “strong sell” rating to a “sell” rating in a research report on Monday, October 2nd. Imperial Capital began coverage on shares of Superior Drilling Products in a research report on Wednesday, August 23rd. They set an “outperform” rating and a $2.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Superior Drilling Products from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th.
Superior Drilling Products Company Profile
Superior Drilling Products, Inc, a drilling and completion tool technology company, innovates, designs, engineers, manufactures, sells, rents, and repairs drilling and completion tools in the United States and internationally. It is involved in the design and manufacture of new drill bit and horizontal drill string enhancement tools for the oil, natural gas, and mining services industries; and the refurbishment of polycrystalline diamond compact drill bits.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Superior Drilling Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Superior Drilling Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.