Equities analysts predict that Dril-Quip, Inc. (NYSE:DRQ) will announce earnings per share of ($0.23) for the current quarter, according to Zacks. Three analysts have issued estimates for Dril-Quip’s earnings, with the lowest EPS estimate coming in at ($0.30) and the highest estimate coming in at ($0.12). Dril-Quip reported earnings of $0.01 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 2,400%. The firm is expected to report its next earnings results after the market closes on Tuesday, February 26th.
On average, analysts expect that Dril-Quip will report full-year earnings of ($0.77) per share for the current fiscal year, with EPS estimates ranging from ($0.90) to ($0.60). For the next fiscal year, analysts expect that the firm will report earnings of ($0.49) per share, with EPS estimates ranging from ($0.85) to ($0.23). Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Dril-Quip.
A number of research analysts have recently commented on the company. Zacks Investment Research lowered Dril-Quip from a “hold” rating to a “sell” rating in a report on Thursday. Barclays raised Dril-Quip from an “underweight” rating to an “equal weight” rating and set a $38.84 price objective on the stock in a report on Wednesday. ValuEngine lowered Dril-Quip from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Finally, JPMorgan Chase & Co. assumed coverage on Dril-Quip in a report on Thursday, January 17th. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $48.47.
Shares of NYSE DRQ traded down $1.51 during mid-day trading on Thursday, reaching $37.34. 307,806 shares of the company traded hands, compared to its average volume of 746,326. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 143.62 and a beta of 1.46. Dril-Quip has a fifty-two week low of $26.62 and a fifty-two week high of $58.95.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DRQ. HGK Asset Management Inc. lifted its stake in Dril-Quip by 6.0% during the fourth quarter. HGK Asset Management Inc. now owns 9,306 shares of the oil and gas company’s stock worth $279,000 after purchasing an additional 526 shares during the last quarter. First Hawaiian Bank raised its position in Dril-Quip by 10.4% during the 4th quarter. First Hawaiian Bank now owns 7,879 shares of the oil and gas company’s stock worth $236,000 after purchasing an additional 740 shares during the last quarter. Legal & General Group Plc raised its position in Dril-Quip by 1.9% during the 3rd quarter. Legal & General Group Plc now owns 46,555 shares of the oil and gas company’s stock worth $2,432,000 after purchasing an additional 871 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in Dril-Quip by 1.9% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 53,237 shares of the oil and gas company’s stock worth $1,599,000 after purchasing an additional 970 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in Dril-Quip by 13.1% during the 3rd quarter. Pacer Advisors Inc. now owns 12,989 shares of the oil and gas company’s stock worth $679,000 after purchasing an additional 1,501 shares during the last quarter.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.