Dril-Quip, Inc. (DRQ) Forecasted to Post Q3 2017 Earnings of ($0.08) Per Share

Dril-Quip, Inc. (NYSE:DRQ) – Equities researchers at FBR & Co issued their Q3 2017 earnings per share estimates for Dril-Quip in a note issued to investors on Tuesday. FBR & Co analyst T. Curran expects that the oil and gas company will post earnings per share of ($0.08) for the quarter. FBR & Co has a “Buy” rating and a $55.00 price objective on the stock. FBR & Co also issued estimates for Dril-Quip’s Q4 2017 earnings at $0.05 EPS, Q1 2018 earnings at $0.03 EPS, Q2 2018 earnings at $0.09 EPS, Q3 2018 earnings at $0.18 EPS, Q4 2018 earnings at $0.25 EPS and FY2018 earnings at $0.55 EPS.

Other equities analysts also recently issued research reports about the stock. Cowen and Company set a $43.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a report on Friday, October 6th. Scotiabank set a $61.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a report on Monday, July 31st. Piper Jaffray Companies set a $43.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a report on Saturday, July 29th. Finally, BidaskClub downgraded shares of Dril-Quip from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $53.86.

ILLEGAL ACTIVITY NOTICE: This story was originally posted by Markets Daily and is the sole property of of Markets Daily. If you are accessing this story on another publication, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The correct version of this story can be read at https://www.themarketsdaily.com/2017/10/13/dril-quip-inc-drq-forecasted-to-post-q3-2017-earnings-of-0-08-per-share.html. Dril-Quip (NYSE:DRQ) last issued its earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.06. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The business had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $112.12 million. During the same quarter in the prior year, the business posted $0.96 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis.

Institutional investors and hedge funds have recently made changes to their positions in the company. Riverhead Capital Management LLC boosted its holdings in shares of Dril-Quip by 66.4% during the second quarter. Riverhead Capital Management LLC now owns 2,663 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 1,063 shares during the period. QS Investors LLC boosted its holdings in shares of Dril-Quip by 0.5% during the second quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 13 shares during the period. LS Investment Advisors LLC boosted its holdings in shares of Dril-Quip by 17.6% during the second quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock valued at $147,000 after acquiring an additional 450 shares during the period. Flinton Capital Management LLC boosted its holdings in shares of Dril-Quip by 64.8% during the second quarter. Flinton Capital Management LLC now owns 4,060 shares of the oil and gas company’s stock valued at $198,000 after acquiring an additional 1,596 shares during the period. Finally, ING Groep NV acquired a new position in shares of Dril-Quip during the second quarter valued at $225,000.

In other Dril-Quip news, VP James C. Webster sold 2,000 shares of Dril-Quip stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $43.49, for a total value of $86,980.00. Following the completion of the transaction, the vice president now owns 24,104 shares of the company’s stock, valued at $1,048,282.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Dril-Quip Company Profile

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)

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