Dril-Quip, Inc. (DRQ) Expected to Post Quarterly Sales of $102.46 Million
Wall Street brokerages expect Dril-Quip, Inc. (NYSE:DRQ) to announce $102.46 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Dril-Quip’s earnings, with estimates ranging from $97.50 million to $106.37 million. Dril-Quip posted sales of $106.09 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.4%. The company is expected to issue its next quarterly earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that Dril-Quip will report full-year sales of $102.46 million for the current financial year, with estimates ranging from $445.00 million to $455.30 million. For the next year, analysts expect that the company will report sales of $396.61 million per share, with estimates ranging from $375.10 million to $420.20 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Dril-Quip.
Dril-Quip (NYSE:DRQ) last posted its earnings results on Friday, October 27th. The oil and gas company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The company had revenue of $100.35 million for the quarter, compared to the consensus estimate of $106.74 million. During the same quarter in the prior year, the business earned $0.63 earnings per share. The firm’s revenue for the quarter was down 18.8% on a year-over-year basis.
In other Dril-Quip news, insider Blake T. Deberry sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $44.66, for a total transaction of $446,600.00. Following the completion of the sale, the insider now directly owns 126,208 shares in the company, valued at $5,636,449.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A P. Shukis sold 613 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $42.80, for a total value of $26,236.40. Following the sale, the director now owns 12,282 shares of the company’s stock, valued at $525,669.60. The disclosure for this sale can be found here. Insiders have sold 45,662 shares of company stock worth $1,927,019 in the last three months. 0.87% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Shell Asset Management Co. bought a new stake in Dril-Quip during the third quarter worth $1,742,000. Nordea Investment Management AB lifted its stake in Dril-Quip by 51.8% during the third quarter. Nordea Investment Management AB now owns 54,931 shares of the oil and gas company’s stock worth $2,425,000 after purchasing an additional 18,739 shares during the last quarter. BlackRock Inc. lifted its stake in Dril-Quip by 17.9% during the second quarter. BlackRock Inc. now owns 4,221,751 shares of the oil and gas company’s stock worth $206,022,000 after purchasing an additional 640,319 shares during the last quarter. State Street Corp lifted its stake in Dril-Quip by 22.0% during the second quarter. State Street Corp now owns 1,441,200 shares of the oil and gas company’s stock worth $70,327,000 after purchasing an additional 260,352 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Dril-Quip by 119.7% during the second quarter. Northern Trust Corp now owns 1,042,035 shares of the oil and gas company’s stock worth $50,851,000 after purchasing an additional 567,821 shares during the last quarter.
Dril-Quip (NYSE:DRQ) opened at $54.35 on Friday. Dril-Quip has a 12-month low of $35.85 and a 12-month high of $67.95. The company has a market capitalization of $2,060.00, a P/E ratio of -73.45 and a beta of 0.74.
ILLEGAL ACTIVITY NOTICE: This story was reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this story on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this story can be read at https://theolympiareport.com/2018/01/20/dril-quip-inc-drq-expected-to-post-quarterly-sales-of-102-46-million.html.
Dril-Quip Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Dril-Quip Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dril-Quip and related companies with MarketBeat.com's FREE daily email newsletter.