Wall Street brokerages forecast that Dril-Quip, Inc. (NYSE:DRQ) will report earnings per share of $0.03 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Dril-Quip’s earnings. The highest EPS estimate is $0.08 and the lowest is ($0.04). Dril-Quip posted earnings per share of $0.23 in the same quarter last year, which would indicate a negative year over year growth rate of 87%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 27th.

According to Zacks, analysts expect that Dril-Quip will report full-year earnings of $0.20 per share for the current financial year, with EPS estimates ranging from $0.11 to $0.27. For the next financial year, analysts forecast that the business will post earnings of $0.19 per share, with EPS estimates ranging from ($0.17) to $0.55. Zacks’ EPS calculations are an average based on a survey of research firms that follow Dril-Quip.

Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. Dril-Quip had a negative net margin of 6.14% and a positive return on equity of 1.19%. The business had revenue of $100.35 million during the quarter, compared to the consensus estimate of $106.74 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The business’s revenue for the quarter was down 18.8% compared to the same quarter last year.

A number of research analysts recently issued reports on DRQ shares. B. Riley restated a “buy” rating on shares of Dril-Quip in a research report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Dril-Quip from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Wednesday, November 1st. FBR & Co upgraded shares of Dril-Quip from a “neutral” rating to a “buy” rating and boosted their target price for the company from $49.00 to $55.00 in a research report on Tuesday, October 10th. TheStreet downgraded shares of Dril-Quip from a “c” rating to a “d+” rating in a research report on Friday, October 27th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $38.00 target price on shares of Dril-Quip in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $48.57.

Dril-Quip (DRQ) opened at $44.45 on Friday. The stock has a market cap of $1,720.76, a price-to-earnings ratio of 108.21 and a beta of 0.73. Dril-Quip has a 1 year low of $35.85 and a 1 year high of $67.95.

In other Dril-Quip news, CFO Jeffrey J. Bird sold 1,931 shares of the company’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 $80,117.19. Following the completion of the transaction, the chief financial officer now owns 24,719 shares in the company, valued at $1,025,591.31. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Blake T. Deberry sold 14,819 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $41.49, for a total transaction of $614,840.31. Following the completion of the transaction, the insider now owns 113,175 shares of the company’s stock, valued at approximately $4,695,630.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,662 shares of company stock valued at $2,013,999. Insiders own 0.87% of the company’s stock.

Several institutional investors have recently modified their holdings of DRQ. Riverhead Capital Management LLC raised its position in shares of Dril-Quip by 66.4% in the second 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. Quantbot Technologies LP acquired a new position in shares of Dril-Quip in the third quarter worth about $136,000. QS Investors LLC raised its position in shares of 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. Flinton Capital Management LLC raised its position in shares of Dril-Quip by 64.8% in the second 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, Symons Capital Management Inc. acquired a new position in shares of Dril-Quip in the third quarter worth about $232,000.

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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.

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

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