DXP Enterprises Inc (NASDAQ:DXPE) Expected to Announce Quarterly Sales of $328.45 Million
Analysts forecast that DXP Enterprises Inc (NASDAQ:DXPE) will announce $328.45 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for DXP Enterprises’ earnings, with the lowest sales estimate coming in at $326.90 million and the highest estimate coming in at $330.00 million. DXP Enterprises reported sales of $308.03 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.6%. The firm is expected to issue its next quarterly earnings results on Monday, November 4th.
According to Zacks, analysts expect that DXP Enterprises will report full year sales of $1.31 billion for the current fiscal year, with estimates ranging from $1.30 billion to $1.31 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.37 billion, with estimates ranging from $1.36 billion to $1.38 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover DXP Enterprises.
DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.08. DXP Enterprises had a return on equity of 12.86% and a net margin of 3.19%. The business had revenue of $333.30 million during the quarter, compared to analyst estimates of $331.07 million. During the same period in the previous year, the firm earned $0.61 EPS. DXP Enterprises’s quarterly revenue was up 7.1% compared to the same quarter last year.
Several institutional investors have recently made changes to their positions in the company. Nuveen Asset Management LLC acquired a new stake in shares of DXP Enterprises during the second quarter valued at about $8,671,000. Victory Capital Management Inc. boosted its stake in shares of DXP Enterprises by 19.7% during the second quarter. Victory Capital Management Inc. now owns 49,089 shares of the industrial products company’s stock valued at $1,860,000 after purchasing an additional 8,086 shares in the last quarter. Morgan Stanley boosted its stake in shares of DXP Enterprises by 9.5% during the second quarter. Morgan Stanley now owns 90,557 shares of the industrial products company’s stock valued at $3,432,000 after purchasing an additional 7,822 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of DXP Enterprises by 54.8% during the second quarter. AQR Capital Management LLC now owns 20,437 shares of the industrial products company’s stock valued at $774,000 after purchasing an additional 7,236 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of DXP Enterprises by 13.9% during the second quarter. Bank of America Corp DE now owns 20,061 shares of the industrial products company’s stock valued at $760,000 after purchasing an additional 2,447 shares in the last quarter. Institutional investors own 79.37% of the company’s stock.
Shares of DXPE traded down $0.49 on Thursday, hitting $31.62. The company’s stock had a trading volume of 56,300 shares, compared to its average volume of 80,656. The company has a quick ratio of 1.75, a current ratio of 2.56 and a debt-to-equity ratio of 0.87. The firm’s fifty day moving average price is $33.95 and its 200-day moving average price is $36.69. DXP Enterprises has a fifty-two week low of $26.95 and a fifty-two week high of $49.15. The firm has a market capitalization of $564.22 million, a price-to-earnings ratio of 16.30, a P/E/G ratio of 0.77 and a beta of 2.65.
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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