$102.46 Million in Sales Expected for Dril-Quip, Inc. (DRQ) This Quarter
Wall Street analysts forecast that Dril-Quip, Inc. (NYSE:DRQ) will report $102.46 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Dril-Quip’s earnings, with the highest sales estimate coming in at $106.37 million and the lowest estimate coming in at $97.50 million. Dril-Quip reported sales of $106.09 million in the same quarter last year, which indicates a negative year-over-year growth rate of 3.4%. The business is expected to issue its next quarterly earnings results before the market opens on Wednesday, February 28th.
On average, analysts expect that Dril-Quip will report full year sales of $102.46 million for the current fiscal year, with estimates ranging from $445.00 million to $455.30 million. For the next 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 analysts that cover Dril-Quip.
A number of analysts recently weighed in on DRQ shares. FBR & Co raised shares of Dril-Quip from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $55.00 in a report on Tuesday, October 10th. B. Riley reaffirmed a “buy” rating on shares of Dril-Quip in a report on Wednesday, November 1st. Zacks Investment Research raised shares of Dril-Quip from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Wednesday, November 1st. TheStreet raised shares of Dril-Quip from a “d+” rating to a “c-” rating in a report on Friday, January 26th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $38.00 price objective on shares of Dril-Quip in a report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Dril-Quip currently has a consensus rating of “Hold” and a consensus price target of $49.43.
Large investors have recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in shares of Dril-Quip during the 3rd quarter valued at about $136,000. QS Investors LLC boosted its position in shares of Dril-Quip by 0.5% during the 2nd quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 13 shares in the last quarter. Flinton Capital Management LLC boosted its position in shares of Dril-Quip by 64.8% during the 2nd quarter. Flinton Capital Management LLC now owns 4,060 shares of the oil and gas company’s stock valued at $198,000 after purchasing an additional 1,596 shares in the last quarter. Unison Advisors LLC bought a new position in shares of Dril-Quip during the 4th quarter valued at about $212,000. Finally, Symons Capital Management Inc. bought a new position in shares of Dril-Quip during the 3rd quarter valued at about $232,000.
Shares of Dril-Quip (NYSE:DRQ) opened at $47.55 on Tuesday. Dril-Quip has a twelve month low of $35.85 and a twelve month high of $67.95. The firm has a market cap of $1,893.03, a PE ratio of 119.05 and a beta of 0.72.
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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