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

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

Drilling Tools International Stock Up 1.4%

NASDAQ:DTI traded up $0.02 during midday trading on Friday, reaching $1.43. 315,605 shares of the stock traded hands, compared to its average volume of 253,819. Drilling Tools International has a 12-month low of $1.35 and a 12-month high of $4.69. The business has a 50-day moving average of $2.15 and a two-hundred day moving average of $2.82. 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 stock has a market capitalization of $50.45 million, a PE ratio of -11.00, a price-to-earnings-growth ratio of 3.97 and a beta of -0.56.

Wall Street Analyst Weigh In

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

About Drilling Tools International

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.