Zacks: Brokerages Anticipate Dril-Quip, Inc. (DRQ) Will Announce Earnings of -$0.07 Per Share

Equities analysts predict that Dril-Quip, Inc. (NYSE:DRQ) will announce earnings per share of ($0.07) for the current quarter, according to Zacks. Four analysts have issued estimates for Dril-Quip’s earnings, with the lowest EPS estimate coming in at ($0.17) and the highest estimate coming in at ($0.01). Dril-Quip reported earnings of ($0.24) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 70.8%. The firm is expected to report its next earnings results on Thursday, July 25th.

On average, analysts expect that Dril-Quip will report full-year earnings of ($0.12) per share for the current fiscal year, with EPS estimates ranging from ($0.85) to $0.20. For the next fiscal year, analysts expect that the firm will report earnings of $0.85 per share, with EPS estimates ranging from $0.55 to $1.22. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Dril-Quip.

Dril-Quip (NYSE:DRQ) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.06). The firm had revenue of $94.30 million during the quarter, compared to analyst estimates of $95.89 million. Dril-Quip had a negative net margin of 24.85% and a negative return on equity of 1.84%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.16) EPS.

Several analysts have recently weighed in on DRQ shares. JPMorgan Chase & Co. started coverage on Dril-Quip in a report on Thursday, January 17th. They issued a “neutral” rating for the company. Zacks Investment Research lowered Dril-Quip from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. Barclays raised Dril-Quip from an “underweight” rating to an “equal weight” rating and set a $38.84 target price for the company in a report on Wednesday, February 20th. Finally, ValuEngine raised Dril-Quip from a “hold” rating to a “buy” rating in a report on Friday, March 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.17.

Shares of Dril-Quip stock traded down $0.10 during trading on Tuesday, hitting $43.51. The stock had a trading volume of 439,545 shares, compared to its average volume of 288,186. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -69.06 and a beta of 1.50. Dril-Quip has a fifty-two week low of $26.62 and a fifty-two week high of $58.95.

In other news, VP James C. Webster sold 2,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $45.84, for a total transaction of $91,680.00. Following the completion of the sale, the vice president now directly owns 39,834 shares of the company’s stock, valued at $1,825,990.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.97% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in Dril-Quip during the third quarter valued at $243,000. Paloma Partners Management Co acquired a new position in Dril-Quip during the third quarter valued at $534,000. Pacer Advisors Inc. raised its position in Dril-Quip by 13.1% during the third quarter. Pacer Advisors Inc. now owns 12,989 shares of the oil and gas company’s stock valued at $679,000 after buying an additional 1,501 shares during the period. MetLife Investment Advisors LLC raised its position in Dril-Quip by 15.6% during the third quarter. MetLife Investment Advisors LLC now owns 48,658 shares of the oil and gas company’s stock valued at $2,542,000 after buying an additional 6,561 shares during the period. Finally, Vanguard Group Inc. raised its position in Dril-Quip by 0.6% during the third quarter. Vanguard Group Inc. now owns 3,454,189 shares of the oil and gas company’s stock valued at $180,482,000 after buying an additional 20,778 shares during the period.

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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