Brokerages Anticipate Dril-Quip, Inc. (NYSE:DRQ) Will Post Earnings of $0.11 Per Share

Equities analysts predict that Dril-Quip, Inc. (NYSE:DRQ) will announce $0.11 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Dril-Quip’s earnings, with estimates ranging from $0.03 to $0.18. Dril-Quip posted earnings of ($0.20) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 155%. The company is scheduled to announce its next earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Dril-Quip will report full-year earnings of $0.20 per share for the current fiscal year, with EPS estimates ranging from $0.02 to $0.35. For the next year, analysts expect that the business will post earnings of $1.13 per share, with EPS estimates ranging from $0.43 to $1.60. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Dril-Quip.

Dril-Quip (NYSE:DRQ) last posted its earnings results on Thursday, July 25th. The oil and gas company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). Dril-Quip had a negative net margin of 23.06% and a negative return on equity of 1.04%. The business had revenue of $104.00 million for the quarter, compared to analyst estimates of $97.19 million. During the same quarter last year, the business earned ($0.24) earnings per share. Dril-Quip’s revenue was up 9.6% on a year-over-year basis.

A number of equities research analysts have recently commented on DRQ shares. TheStreet upgraded Dril-Quip from a “d+” rating to a “c-” rating in a research report on Tuesday, July 30th. Gabelli upgraded Dril-Quip from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Zacks Investment Research cut Dril-Quip from a “buy” rating to a “hold” rating and set a $55.00 target price on the stock. in a research report on Monday, July 29th. ValuEngine upgraded Dril-Quip from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Finally, Cowen restated a “market perform” rating and set a $44.00 target price (up from $39.00) on shares of Dril-Quip in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Dril-Quip has a consensus rating of “Hold” and an average price target of $46.96.

Shares of NYSE:DRQ traded down $0.43 during trading on Thursday, reaching $47.77. 6,455 shares of the company’s stock traded hands, compared to its average volume of 396,493. Dril-Quip has a fifty-two week low of $26.62 and a fifty-two week high of $54.51. The firm has a market cap of $1.78 billion, a PE ratio of -75.72 and a beta of 1.47. The company has a 50-day simple moving average of $47.83 and a 200-day simple moving average of $43.81.

In related news, insider Blake T. Deberry sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $51.63, for a total value of $516,300.00. Following the transaction, the insider now directly owns 149,242 shares of the company’s stock, valued at approximately $7,705,364.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.97% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Kavar Capital Partners LLC purchased a new position in Dril-Quip in the 2nd quarter worth approximately $27,000. Parallel Advisors LLC purchased a new position in Dril-Quip in the 1st quarter worth approximately $38,000. Quadrant Capital Group LLC purchased a new position in Dril-Quip in the 1st quarter worth approximately $48,000. NumerixS Investment Technologies Inc lifted its stake in Dril-Quip by 450.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,100 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 900 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Dril-Quip in the 2nd quarter worth approximately $62,000.

Dril-Quip Company Profile

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services onshore and offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. It operates through three segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific.

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

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