Dril-Quip (NYSE:DRQ) Posts Quarterly Earnings Results
Dril-Quip (NYSE:DRQ) posted its earnings results on Thursday. The oil and gas company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.23), MarketWatch Earnings reports. The company had revenue of $90.45 million for the quarter, compared to analysts’ expectations of $81.60 million. Dril-Quip had a negative return on equity of 0.66% and a negative net margin of 6.88%. During the same quarter in the prior year, the company earned $0.03 EPS.
NYSE DRQ traded down $1.37 during trading hours on Friday, reaching $33.29. 355,036 shares of the stock traded hands, compared to its average volume of 236,722. The stock has a 50 day simple moving average of $31.39 and a two-hundred day simple moving average of $34.02. Dril-Quip has a 1 year low of $23.91 and a 1 year high of $56.71.
DRQ has been the topic of several recent research reports. B. Riley dropped their target price on Dril-Quip from $45.00 to $33.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. ValuEngine upgraded Dril-Quip from a “hold” rating to a “buy” rating in a research report on Saturday. Scotiabank downgraded Dril-Quip from a “sector outperform” rating to a “sector perform” rating and set a $28.00 price objective on the stock. in a research report on Thursday, July 16th. Cowen lowered their price objective on Dril-Quip from $32.00 to $29.00 and set a “market perform” rating on the stock in a research report on Friday, May 8th. Finally, Gabelli downgraded Dril-Quip from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $36.40.
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: What is a closed-end mutual fund (CEF)?
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.