Zacks: Analysts Expect Dril-Quip, Inc. (DRQ) to Post $0.03 EPS
Wall Street brokerages forecast that Dril-Quip, Inc. (NYSE:DRQ) will report $0.03 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Dril-Quip’s earnings, with the highest EPS estimate coming in at $0.08 and the lowest estimate coming in at ($0.04). Dril-Quip posted earnings of $0.23 per share in the same quarter last year, which would suggest a negative year over year growth rate of 87%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 27th.
On average, analysts expect that Dril-Quip will report full year earnings of $0.18 per share for the current financial year, with EPS estimates ranging from $0.10 to $0.27. For the next financial year, analysts forecast that the firm will report earnings of $0.22 per share, with EPS estimates ranging from ($0.17) to $0.55. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Dril-Quip.
Dril-Quip (NYSE:DRQ) last issued its earnings results on Friday, October 27th. The oil and gas company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The company had revenue of $100.35 million during the quarter, compared to the consensus estimate of $106.74 million. During the same period in the previous year, the company posted $0.63 EPS. The firm’s revenue for the quarter was down 18.8% compared to the same quarter last year.
Several research analysts have recently commented on DRQ shares. Cowen set a $43.00 target price on Dril-Quip and gave the stock a “hold” rating in a research note on Friday, October 6th. Gabelli started coverage on Dril-Quip in a research note on Friday, October 20th. They set a “hold” rating and a $43.00 target price for the company. Zacks Investment Research downgraded Dril-Quip from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Piper Jaffray Companies reissued a “hold” rating and set a $38.00 price target on shares of Dril-Quip in a report on Friday, November 10th. Finally, FBR & Co reissued a “buy” rating on shares of Dril-Quip in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Dril-Quip has an average rating of “Hold” and a consensus price target of $48.57.
Shares of Dril-Quip (NYSE:DRQ) traded up $1.00 during midday trading on Monday, hitting $48.95. The stock had a trading volume of 859,148 shares, compared to its average volume of 574,684. Dril-Quip has a one year low of $35.85 and a one year high of $69.40. The company has a market cap of $1,850.00, a P/E ratio of 114.17 and a beta of 0.68.
In related news, COO James A. Gariepy sold 13,409 shares of Dril-Quip stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $41.49, for a total transaction of $556,339.41. Following the completion of the sale, the chief operating officer now directly owns 104,753 shares of the company’s stock, valued at approximately $4,346,201.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey J. Bird sold 1,931 shares of Dril-Quip stock in a transaction on Monday, October 30th. The shares were sold at an average price of $41.49, for a total value of $80,117.19. Following the completion of the transaction, the chief financial officer now directly owns 24,719 shares of the company’s stock, valued at $1,025,591.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,662 shares of company stock valued at $2,013,999. 0.87% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in Dril-Quip in the 3rd quarter valued at $484,000. Stifel Financial Corp raised its holdings in Dril-Quip by 8.8% in the 3rd quarter. Stifel Financial Corp now owns 73,853 shares of the oil and gas company’s stock valued at $3,271,000 after acquiring an additional 5,998 shares in the last quarter. OxFORD Asset Management LLP acquired a new position in Dril-Quip in the 3rd quarter valued at $695,000. Schwab Charles Investment Management Inc. raised its holdings in Dril-Quip by 12.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 281,882 shares of the oil and gas company’s stock valued at $12,446,000 after acquiring an additional 30,800 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Dril-Quip in the 3rd quarter valued at $339,000.
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Dril-Quip Company Profile
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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