FY2017 EPS Estimates for Dril-Quip, Inc. (DRQ) Decreased by Analyst

Dril-Quip, Inc. (NYSE:DRQ) – Equities researchers at FBR & Co decreased their FY2017 earnings per share estimates for Dril-Quip in a report released on Tuesday. FBR & Co analyst T. Curran now anticipates that the oil and gas company will earn $0.14 per share for the year, down from their prior forecast of $0.20. FBR & Co has a “Buy” rating and a $55.00 price objective on the stock. FBR & Co also issued estimates for Dril-Quip’s FY2019 earnings at $1.20 EPS.

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

ILLEGAL ACTIVITY WARNING: “FY2017 EPS Estimates for Dril-Quip, Inc. (DRQ) Decreased by Analyst” was reported by Markets Daily and is the property of of Markets Daily. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.themarketsdaily.com/2017/10/13/fy2017-eps-estimates-for-dril-quip-inc-drq-decreased-by-analyst.html.

Dril-Quip (DRQ) opened at 42.80 on Wednesday. Dril-Quip has a one year low of $35.85 and a one year high of $69.40. The stock has a 50 day moving average of $41.80 and a 200 day moving average of $47.50. The firm has a market cap of $1.62 billion, a PE ratio of 79.55 and a beta of 0.70.

Dril-Quip (NYSE:DRQ) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.09 EPS for the quarter, beating the Zacks’ 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 company had revenue of $127.90 million for the quarter, compared to the consensus estimate of $112.12 million. During the same period in the prior year, the firm posted $0.96 EPS. The company’s quarterly revenue was down 10.2% compared to the same quarter last year.

In other Dril-Quip news, VP James C. Webster sold 2,000 shares of the business’s stock in a transaction on 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 in the company, valued at $1,048,282.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.87% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. QS Investors LLC increased its stake in 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 purchasing an additional 13 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Dril-Quip by 0.5% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,548 shares of the oil and gas company’s stock valued at $383,000 after purchasing an additional 33 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Dril-Quip by 0.3% during the first quarter. Metropolitan Life Insurance Co. NY now owns 35,235 shares of the oil and gas company’s stock valued at $1,922,000 after purchasing an additional 114 shares during the last quarter. Commerce Bank increased its stake in Dril-Quip by 3.1% during the second quarter. Commerce Bank now owns 5,125 shares of the oil and gas company’s stock valued at $250,000 after purchasing an additional 155 shares during the last quarter. Finally, Advantus Capital Management Inc increased its stake in Dril-Quip by 3.6% during the first quarter. Advantus Capital Management Inc now owns 4,840 shares of the oil and gas company’s stock valued at $264,000 after purchasing an additional 170 shares during the last quarter.

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.

Latest News

Leave a Reply