Wall Street brokerages predict that Dril-Quip, Inc. (NYSE:DRQ) will post sales of $104.57 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Dril-Quip’s earnings. The highest sales estimate is $106.56 million and the lowest is $100.70 million. Dril-Quip reported sales of $93.26 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.1%. The firm is expected to report its next earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Dril-Quip will report full year sales of $410.31 million for the current financial year, with estimates ranging from $408.39 million to $415.18 million. For the next year, analysts anticipate that the firm will report sales of $474.51 million, with estimates ranging from $461.17 million to $508.78 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Dril-Quip.

Dril-Quip (NYSE:DRQ) last issued its earnings results 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). The company had revenue of $104.00 million during the quarter, compared to analyst estimates of $97.19 million. Dril-Quip had a negative net margin of 23.06% and a negative return on equity of 1.04%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.24) earnings per share.

Several equities analysts have recently issued reports on DRQ shares. TheStreet upgraded Dril-Quip from a “d+” rating to a “c-” rating in a research report on Tuesday, July 30th. Zacks Investment Research cut shares of Dril-Quip from a “buy” rating to a “hold” rating and set a $55.00 target price on the stock. in a report on Monday, July 29th. ValuEngine upgraded shares of Dril-Quip from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Cowen restated a “market perform” rating and issued a $44.00 target price (up previously from $39.00) on shares of Dril-Quip in a report on Tuesday, April 30th. Finally, Gabelli upgraded shares of Dril-Quip from a “hold” rating to a “buy” rating in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $46.96.

Shares of NYSE DRQ traded down $0.43 during trading hours on Friday, reaching $47.77. The stock had a trading volume of 6,455 shares, compared to its average volume of 396,493. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -75.72 and a beta of 1.47. Dril-Quip has a fifty-two week low of $26.62 and a fifty-two week high of $54.51. The firm has a 50-day moving average of $47.83 and a 200-day moving average of $43.81.

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

Several large investors have recently made changes to their positions in DRQ. BlackRock Inc. raised its stake in Dril-Quip by 0.6% in the second quarter. BlackRock Inc. now owns 5,503,378 shares of the oil and gas company’s stock valued at $264,161,000 after buying an additional 32,727 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Dril-Quip by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,897,604 shares of the oil and gas company’s stock worth $187,085,000 after buying an additional 95,017 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Dril-Quip by 5.2% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,770,299 shares of the oil and gas company’s stock worth $180,975,000 after buying an additional 187,762 shares in the last quarter. Northern Trust Corp raised its stake in shares of Dril-Quip by 1.9% during the 2nd quarter. Northern Trust Corp now owns 975,508 shares of the oil and gas company’s stock worth $46,823,000 after buying an additional 18,187 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Dril-Quip by 3.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 810,680 shares of the oil and gas company’s stock worth $38,913,000 after buying an additional 28,071 shares in the last quarter.

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.

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

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