Drilling Tools International (NASDAQ:DTI) Issues Earnings Results, Misses Expectations By $0.05 EPS

Drilling Tools International (NASDAQ:DTI) released its quarterly earnings results on Thursday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.05), FiscalAI reports. Drilling Tools International had a negative return on equity of 0.40% and a negative net margin of 3.06%. The firm had revenue of $40.65 million for the quarter, compared to analysts’ expectations of $40.87 million.

Drilling Tools International Stock Up 1.4%

Shares of DTI stock traded up $0.02 during mid-day trading on Friday, reaching $1.43. 315,605 shares of the company were exchanged, compared to its average volume of 253,819. Drilling Tools International has a fifty-two week low of $1.35 and a fifty-two week high of $4.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.58 and a current ratio of 2.18. The company has a market capitalization of $50.45 million, a P/E ratio of -11.00, a P/E/G ratio of 3.97 and a beta of -0.56. The business’s 50 day simple moving average is $2.15 and its 200 day simple moving average is $2.82.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DTI shares. Jefferies Financial Group reissued a “hold” rating and issued a $2.80 price objective on shares of Drilling Tools International in a research report on Sunday, August 9th. Zacks Research lowered Drilling Tools International from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Drilling Tools International in a research note on Monday, October 26th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $2.80.

Drilling Tools International Company Profile

Drilling Tools International Corporation (NASDAQ: DTI) provides rental tools and related services to the oil and gas drilling industry. The company supplies downhole equipment used in drilling, completion and production operations, serving exploration and production companies, drilling contractors and oilfield service providers.

Its product offering includes drill pipe, drill collars, heavy-weight drill pipe, stabilizers, subs, mud motors, drilling jars and other specialized downhole tools.