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.

ILLEGAL ACTIVITY WARNING: This story was published by Daily Political and is the property of of Daily Political. If you are accessing this story on another site, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this story can be viewed at https://www.dailypolitical.com/2017/12/02/zacks-analysts-expect-dril-quip-inc-drq-to-post-0-03-eps.html.

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.

Get a free copy of the Zacks research report on Dril-Quip (DRQ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Dril-Quip Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dril-Quip Inc. and related companies with MarketBeat.com's FREE daily email newsletter.