Analysts predict that Dril-Quip, Inc. (NYSE:DRQ) will announce sales of $102.46 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Dril-Quip’s earnings. The lowest sales estimate is $97.50 million and the highest is $106.37 million. Dril-Quip posted sales of $106.09 million in the same quarter last year, which suggests a negative year over year growth rate of 3.4%. The company is scheduled to report its next earnings report on Tuesday, February 27th.
On average, analysts expect that Dril-Quip will report full year sales of $102.46 million for the current financial year, with estimates ranging from $445.00 million to $455.30 million. For the next fiscal year, analysts forecast that the business will post sales of $396.61 million per share, with estimates ranging from $375.10 million to $420.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Dril-Quip.
Dril-Quip (NYSE:DRQ) last posted its earnings results on Friday, October 27th. The oil and gas company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The company had revenue of $100.35 million for the quarter, compared to the consensus estimate of $106.74 million. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The firm’s revenue for the quarter was down 18.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share.
DRQ has been the topic of a number of analyst reports. Cowen set a $43.00 price target on Dril-Quip and gave the stock a “hold” rating in a research report on Friday, October 6th. FBR & Co raised Dril-Quip from a “neutral” rating to a “buy” rating and increased their price target for the stock from $49.00 to $55.00 in a research report on Tuesday, October 10th. Gabelli initiated coverage on Dril-Quip in a research report on Friday, October 20th. They set a “hold” rating and a $43.00 price target on the stock. Scotiabank set a $61.00 price target on Dril-Quip and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, TheStreet downgraded Dril-Quip from a “c” rating to a “d+” rating in a research report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Dril-Quip has an average rating of “Hold” and an average target price of $49.43.
In other Dril-Quip news, insider Blake T. Deberry sold 14,819 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $41.49, for a total value of $614,840.31. Following the sale, the insider now owns 113,175 shares of the company’s stock, valued at approximately $4,695,630.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director A P. Shukis sold 613 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $42.80, for a total value of $26,236.40. Following the completion of the sale, the director now directly owns 12,282 shares in the company, valued at approximately $525,669.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,662 shares of company stock worth $1,927,019. Company insiders own 0.87% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Shell Asset Management Co. acquired a new stake in shares of Dril-Quip in the 3rd quarter valued at $1,742,000. Nordea Investment Management AB boosted its holdings in shares of Dril-Quip by 51.8% in the 3rd quarter. Nordea Investment Management AB now owns 54,931 shares of the oil and gas company’s stock valued at $2,425,000 after purchasing an additional 18,739 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Dril-Quip by 17.9% in the 2nd quarter. BlackRock Inc. now owns 4,221,751 shares of the oil and gas company’s stock valued at $206,022,000 after purchasing an additional 640,319 shares in the last quarter. State Street Corp boosted its holdings in shares of Dril-Quip by 22.0% in the 2nd quarter. State Street Corp now owns 1,441,200 shares of the oil and gas company’s stock valued at $70,327,000 after purchasing an additional 260,352 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Dril-Quip by 119.7% in the 2nd quarter. Northern Trust Corp now owns 1,042,035 shares of the oil and gas company’s stock valued at $50,851,000 after purchasing an additional 567,821 shares in the last quarter.
Shares of Dril-Quip (DRQ) opened at $54.35 on Friday. The stock has a market capitalization of $2,060.00, a P/E ratio of -73.45 and a beta of 0.74. Dril-Quip has a 12-month low of $35.85 and a 12-month high of $67.95.
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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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