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.
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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.
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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