Q1 2017 EPS Estimates for Dril-Quip Inc. (DRQ) Lowered by Analyst
Dril-Quip Inc. (NYSE:DRQ) – Equities research analysts at FBR & Co reduced their Q1 2017 earnings per share estimates for Dril-Quip in a report issued on Tuesday. FBR & Co analyst T. Curran now forecasts that the brokerage will earn $0.11 per share for the quarter, down from their prior estimate of $0.21. FBR & Co also issued estimates for Dril-Quip’s Q2 2017 earnings at $0.05 EPS, Q3 2017 earnings at $0.10 EPS and FY2017 earnings at $0.46 EPS.
Other research analysts have also issued reports about the company. Zacks Investment Research raised Dril-Quip from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Tuesday, October 25th. Morgan Stanley reaffirmed a “hold” rating and set a $73.00 target price on shares of Dril-Quip in a report on Monday, August 1st. Cowen and Company reaffirmed a “market perform” rating and set a $60.00 target price on shares of Dril-Quip in a report on Tuesday, October 18th. Scotiabank reaffirmed a “sector perform” rating and set a $59.00 target price (down from $67.00) on shares of Dril-Quip in a report on Thursday, October 27th. Finally, Howard Weil lowered their target price on Dril-Quip from $67.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, October 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. Dril-Quip has an average rating of “Hold” and a consensus price target of $60.86.
Dril-Quip (NYSE:DRQ) opened at 50.45 on Thursday. The stock’s 50 day moving average is $52.43 and its 200 day moving average is $56.68. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 13.56 and a beta of 0.60. Dril-Quip has a one year low of $46.90 and a one year high of $66.73.
Dril-Quip (NYSE:DRQ) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.12. The business had revenue of $123.60 million for the quarter, compared to analyst estimates of $120.30 million. Dril-Quip had a net margin of 22.12% and a return on equity of 8.51%. The company’s revenue was down 38.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.32 EPS.
Large investors have recently made changes to their positions in the stock. Denali Advisors LLC purchased a new stake in shares of Dril-Quip during the second quarter valued at about $3,056,000. Quotient Investors LLC purchased a new stake in shares of Dril-Quip during the second quarter valued at about $351,000. BNP Paribas Arbitrage SA raised its stake in shares of Dril-Quip by 2,109.8% in the second quarter. BNP Paribas Arbitrage SA now owns 16,441 shares of the company’s stock valued at $961,000 after buying an additional 15,697 shares in the last quarter. BlueMountain Capital Management LLC purchased a new stake in shares of Dril-Quip during the first quarter valued at about $284,000. Finally, First Republic Investment Management Inc. raised its stake in shares of Dril-Quip by 74.8% in the first quarter. First Republic Investment Management Inc. now owns 15,229 shares of the company’s stock valued at $922,000 after buying an additional 6,515 shares in the last quarter.
In other news, insider Blake T. Deberry sold 9,101 shares of Dril-Quip stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $47.59, for a total transaction of $433,116.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO James A. Gariepy sold 8,676 shares of Dril-Quip stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $47.59, for a total value of $412,890.84. Following the sale, the chief operating officer now owns 78,306 shares of the company’s stock, valued at $3,726,582.54. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.
Dril-Quip Company Profile
Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered offshore drilling and production equipment. The Company’s principal products consist of subsea and surface wellheads, subsea and surface production trees, subsea control systems and manifolds, mudline hanger systems, specialty connectors and associated pipe, drilling and production riser systems, liner hangers, wellhead connectors and diverters.
Receive News & Stock 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 stocks with our FREE daily email newsletter.