Wall Street brokerages expect that Dril-Quip, Inc. (NYSE:DRQ) will report $0.11 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. 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 per share of ($0.20) in the same quarter last year, which would indicate a positive year-over-year growth rate of 155%. The business is scheduled to announce its next earnings results on Thursday, October 24th.

On average, 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 financial year, analysts anticipate that the business will post earnings of $1.13 per share, with EPS estimates ranging from $0.43 to $1.60. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Dril-Quip.

Dril-Quip (NYSE:DRQ) last released its earnings results on Thursday, July 25th. The oil and gas company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $104.00 million during the quarter, compared to analyst estimates of $97.19 million. During the same quarter last year, the business posted ($0.24) EPS. The firm’s revenue was up 9.6% on a year-over-year basis.

DRQ has been the subject of several recent analyst reports. TheStreet upgraded shares of Dril-Quip from a “d+” rating to a “c-” rating in a research note 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 for the company. in a research note on Monday, July 29th. Finally, ValuEngine upgraded shares of Dril-Quip from a “hold” rating to a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Dril-Quip has a consensus rating of “Hold” and a consensus price target of $46.96.

In other news, insider Blake T. Deberry sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $51.63, for a total value of $516,300.00. Following the completion of the sale, the insider now owns 149,242 shares in the company, valued at approximately $7,705,364.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.97% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its stake in shares of Dril-Quip by 2.1% in the second quarter. Oregon Public Employees Retirement Fund now owns 14,300 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 300 shares during the period. Bank of Montreal Can lifted its stake in shares of Dril-Quip by 1.2% in the second quarter. Bank of Montreal Can now owns 33,856 shares of the oil and gas company’s stock valued at $1,625,000 after purchasing an additional 402 shares during the period. Wrapmanager Inc. lifted its stake in shares of Dril-Quip by 5.7% in the second quarter. Wrapmanager Inc. now owns 7,670 shares of the oil and gas company’s stock valued at $368,000 after purchasing an additional 411 shares during the period. M&T Bank Corp lifted its stake in shares of Dril-Quip by 5.1% in the second quarter. M&T Bank Corp now owns 8,921 shares of the oil and gas company’s stock valued at $429,000 after purchasing an additional 430 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Dril-Quip by 11.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,229 shares of the oil and gas company’s stock valued at $240,000 after purchasing an additional 523 shares during the period.

Shares of DRQ stock traded down $0.05 during mid-day trading on Friday, hitting $51.84. The stock had a trading volume of 226,300 shares, compared to its average volume of 441,856. Dril-Quip has a fifty-two week low of $26.62 and a fifty-two week high of $54.51. The firm has a market cap of $1.87 billion, a PE ratio of -82.29 and a beta of 1.52. The company’s 50-day simple moving average is $48.05 and its 200-day simple moving average is $44.80.

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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