Drilling Tools International (NASDAQ:DTI) Issues Quarterly Earnings Results

Drilling Tools International (NASDAQ:DTI) posted its quarterly earnings data on Thursday. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.05), FiscalAI reports. Drilling Tools International had a negative return on equity of 0.40% and a negative net margin of 3.06%. The firm had revenue of $40.65 million for the quarter, compared to the consensus estimate of $40.87 million.

Drilling Tools International Trading Up 1.4%

DTI traded up $0.02 during trading on Friday, reaching $1.43. 315,605 shares of the company’s stock were exchanged, compared to its average volume of 253,819. Drilling Tools International has a one year low of $1.35 and a one year high of $4.69. The company has a current ratio of 2.18, a quick ratio of 1.58 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average price of $2.15 and a two-hundred day moving average price of $2.82.

Analyst Upgrades and Downgrades

DTI has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Drilling Tools International in a research note on Monday, October 26th. Jefferies Financial Group reissued a “hold” rating and set a $2.80 target price on shares of Drilling Tools International in a research note on Sunday, August 9th. Finally, Zacks Research cut shares of Drilling Tools International from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $2.80.

Drilling Tools International Company Profile

Drilling Tools International Corporation (NASDAQ: DTI) provides rental tools and related services to the oil and gas drilling industry. The company supplies downhole equipment used in drilling, completion and production operations, serving exploration and production companies, drilling contractors and oilfield service providers.

Its product offering includes drill pipe, drill collars, heavy-weight drill pipe, stabilizers, subs, mud motors, drilling jars and other specialized downhole tools.