Analysts expect Dril-Quip, Inc. (NYSE:DRQ) to report sales of $102.46 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Dril-Quip’s earnings, with the highest sales estimate coming in at $106.37 million and the lowest estimate coming in at $97.50 million. Dril-Quip reported sales of $106.09 million in the same quarter last year, which indicates a negative year over year growth rate of 3.4%. The firm is expected to issue its next earnings report before the market opens on Wednesday, February 28th.
According to Zacks, analysts expect that Dril-Quip will report full year sales of $102.46 million for the current fiscal year, with estimates ranging from $445.00 million to $455.30 million. For the next year, analysts anticipate that the firm will report sales of $396.61 million per share, with estimates ranging from $375.10 million to $420.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Dril-Quip.
A number of analysts recently commented on DRQ shares. TheStreet lowered Dril-Quip from a “c” rating to a “d+” rating in a research report on Friday, October 27th. ValuEngine lowered Dril-Quip from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Zacks Investment Research lowered Dril-Quip from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. FBR & Co reiterated a “buy” rating on shares of Dril-Quip in a research report on Friday, October 27th. Finally, Scotiabank set a $61.00 price objective on Dril-Quip and gave the stock a “hold” rating in a research report on Friday, October 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $49.43.
In other news, insider Blake T. Deberry sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $44.66, for a total transaction of $446,600.00. Following the completion of the transaction, the insider now directly owns 126,208 shares in the company, valued at approximately $5,636,449.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. QS Investors LLC grew its position in shares of 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 buying an additional 13 shares during the period. Quantbot Technologies LP acquired a new position in shares of Dril-Quip during the 3rd quarter worth about $136,000. Flinton Capital Management LLC grew its position in shares of 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 buying an additional 1,596 shares during the period. Unison Advisors LLC acquired a new position in shares of Dril-Quip during the 4th quarter worth about $212,000. Finally, Citadel Advisors LLC acquired a new position in shares of Dril-Quip during the 2nd quarter worth about $241,000.
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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