Wall Street brokerages predict that Dril-Quip, Inc. (NYSE:DRQ) will post $0.11 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Dril-Quip’s earnings, with the lowest EPS estimate coming in at $0.03 and the highest estimate coming in at $0.18. Dril-Quip reported earnings of ($0.20) per share in the same quarter last year, which would indicate a positive year over year growth rate of 155%. The company is expected to announce its next earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Dril-Quip will report full year earnings of $0.20 per share for the current financial year, with EPS estimates ranging from $0.02 to $0.35. For the next year, analysts expect that the company will report earnings of $1.13 per share, with EPS estimates ranging from $0.43 to $1.60. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Dril-Quip.

Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). Dril-Quip had a negative return on equity of 1.04% and a negative net margin of 23.06%. The business had revenue of $104.00 million for the quarter, compared to analyst estimates of $97.19 million. During the same quarter in the prior year, the company earned ($0.24) earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis.

A number of research firms have recently commented on DRQ. Gabelli upgraded shares of Dril-Quip from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. TheStreet upgraded shares of Dril-Quip from a “d+” rating to a “c-” rating in a research note on Tuesday, July 30th. ValuEngine upgraded shares of Dril-Quip from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Zacks Investment Research downgraded shares of Dril-Quip from a “buy” rating to a “hold” rating and set a $55.00 price objective for the company. in a research note on Monday, July 29th. Finally, Cowen restated a “market perform” rating and set a $44.00 price objective (up from $39.00) on shares of Dril-Quip in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $46.96.

Shares of Dril-Quip stock traded down $0.54 during trading hours on Thursday, reaching $45.62. 282,400 shares of the company’s stock were exchanged, compared to its average volume of 459,230. The company has a 50 day moving average of $47.73 and a two-hundred day moving average of $43.62. Dril-Quip has a fifty-two week low of $26.62 and a fifty-two week high of $54.51. The stock has a market cap of $1.77 billion, a P/E ratio of -72.41 and a beta of 1.47.

In other news, insider Blake T. Deberry sold 10,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $51.63, for a total transaction of $516,300.00. Following the completion of the transaction, the insider now directly owns 149,242 shares in the company, valued at approximately $7,705,364.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.97% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Waddell & Reed Financial Inc. increased its holdings in shares of Dril-Quip by 122.5% during the second quarter. Waddell & Reed Financial Inc. now owns 539,135 shares of the oil and gas company’s stock worth $25,878,000 after purchasing an additional 296,859 shares during the period. Nuveen Asset Management LLC bought a new position in shares of Dril-Quip during the second quarter worth approximately $7,305,000. UBS Asset Management Americas Inc. increased its holdings in shares of Dril-Quip by 7.1% during the second quarter. UBS Asset Management Americas Inc. now owns 37,388 shares of the oil and gas company’s stock worth $1,795,000 after purchasing an additional 2,483 shares during the period. Cubist Systematic Strategies LLC increased its holdings in shares of Dril-Quip by 509.2% during the second quarter. Cubist Systematic Strategies LLC now owns 43,306 shares of the oil and gas company’s stock worth $2,079,000 after purchasing an additional 36,197 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Dril-Quip during the 2nd quarter worth approximately $62,000.

Dril-Quip Company Profile

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services onshore and offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. It operates through three segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific.

Further Reading: Cost of Goods Sold (COGS)

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Earnings History and Estimates for Dril-Quip (NYSE:DRQ)

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