Brokerages forecast that DXP Enterprises Inc (NASDAQ:DXPE) will announce sales of $337.30 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for DXP Enterprises’ earnings. The highest sales estimate is $341.60 million and the lowest is $333.00 million. DXP Enterprises posted sales of $311.23 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.4%. The business is scheduled to announce its next quarterly earnings results on Tuesday, August 6th.
On average, analysts expect that DXP Enterprises will report full year sales of $1.32 billion for the current year, with estimates ranging from $1.31 billion to $1.32 billion. For the next year, analysts forecast that the company will post sales of $1.38 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover DXP Enterprises.
DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. DXP Enterprises had a return on equity of 12.59% and a net margin of 3.09%. The firm had revenue of $311.20 million for the quarter, compared to analysts’ expectations of $310.87 million. During the same period in the prior year, the business posted $0.24 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis.
Several brokerages have recently weighed in on DXPE. Jefferies Financial Group upped their price target on ServiceNow from $242.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. TheStreet cut shares of YRC Worldwide from a “c” rating to a “d+” rating in a research report on Wednesday, May 15th. Stephens set a $198.00 price objective on shares of HubSpot and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Sidoti cut shares of DXP Enterprises from a “buy” rating to a “neutral” rating in a research report on Thursday, July 11th. Finally, Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $47.00.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in shares of DXP Enterprises by 1.5% in the fourth quarter. BlackRock Inc. now owns 2,410,172 shares of the industrial products company’s stock worth $67,097,000 after purchasing an additional 35,801 shares during the last quarter. Nantahala Capital Management LLC grew its position in DXP Enterprises by 18.7% during the fourth quarter. Nantahala Capital Management LLC now owns 1,147,964 shares of the industrial products company’s stock valued at $31,959,000 after acquiring an additional 180,936 shares during the last quarter. Dimensional Fund Advisors LP grew its position in DXP Enterprises by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,010,183 shares of the industrial products company’s stock valued at $28,124,000 after acquiring an additional 13,270 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in DXP Enterprises by 1.8% during the first quarter. Frontier Capital Management Co. LLC now owns 781,517 shares of the industrial products company’s stock valued at $30,417,000 after acquiring an additional 14,081 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in DXP Enterprises by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 189,623 shares of the industrial products company’s stock valued at $5,279,000 after acquiring an additional 1,076 shares during the last quarter. Institutional investors own 79.06% of the company’s stock.
Shares of DXPE traded down $0.49 during midday trading on Tuesday, hitting $31.33. 2,900 shares of the company traded hands, compared to its average volume of 101,087. The stock’s 50-day moving average is $35.17. DXP Enterprises has a one year low of $26.95 and a one year high of $49.50. The firm has a market cap of $570.61 million, a price-to-earnings ratio of 16.15, a P/E/G ratio of 0.78 and a beta of 2.66. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.71 and a current ratio of 2.48.
About DXP Enterprises
DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates in three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.
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