Dril-Quip, Inc. (DRQ) Scheduled to Post Earnings on Wednesday
Dril-Quip, Inc. (NYSE:DRQ) is scheduled to post its quarterly earnings results before the market opens on Wednesday, October 25th. Analysts expect Dril-Quip to post earnings of $0.03 per share for the quarter.
Dril-Quip (NYSE:DRQ) last announced its earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.06. The firm had revenue of $127.90 million during the quarter, compared to analyst estimates of $112.12 million. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 EPS. On average, analysts expect Dril-Quip to post $0.09 EPS for the current fiscal year and $0.14 EPS for the next fiscal year.
Dril-Quip, Inc. (NYSE DRQ) opened at 40.30 on Monday. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 74.91 and a beta of 0.70. The company has a 50-day moving average of $42.61 and a 200-day moving average of $47.00. Dril-Quip, Inc. has a 52 week low of $35.85 and a 52 week high of $69.40.
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Several research firms have weighed in on DRQ. BidaskClub downgraded shares of Dril-Quip from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. FBR & Co raised shares of Dril-Quip from a “neutral” rating to a “buy” rating and lifted their price target for the company from $49.00 to $55.00 in a research note on Tuesday, October 10th. Piper Jaffray Companies set a $43.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a research note on Saturday, July 29th. Scotiabank set a $61.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a research note on Monday, July 31st. Finally, Cowen and Company decreased their price target on shares of Dril-Quip from $55.00 to $43.00 and set a “market perform” rating for the company in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $52.50.
In other news, VP James C. Webster sold 2,000 shares of Dril-Quip stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $43.49, for a total transaction of $86,980.00. Following the completion of the transaction, the vice president now directly owns 24,104 shares in the company, valued at $1,048,282.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is owned by company insiders.
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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