Drilling Tools International (NASDAQ:DTI) Issues Earnings Results

Drilling Tools International (NASDAQ:DTI) posted its quarterly earnings results on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01, Zacks reports. Drilling Tools International had a net margin of 5.46% and a return on equity of 15.38%.

Drilling Tools International Trading Down 4.6 %

Shares of Drilling Tools International stock traded down $0.13 during mid-day trading on Thursday, hitting $2.71. 76,516 shares of the stock were exchanged, compared to its average volume of 48,989. The stock has a market capitalization of $96.46 million, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 0.90 and a beta of -0.86. Drilling Tools International has a twelve month low of $2.50 and a twelve month high of $6.36. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $3.21 and a 200 day simple moving average of $3.45.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners reduced their price target on shares of Drilling Tools International from $7.50 to $5.50 and set a “buy” rating on the stock in a report on Friday, November 15th.

About Drilling Tools International

Drilling Tools International Corporation provides oilfield equipment and services to oil and natural gas sectors in North America, Europe, and the Middle East. It offers downhole tool rentals, machining, and inspection services to support the global drilling and wellbore construction industry. The company also provides products are bottom hole assembly components, such as stabilizers, subs, non-magnetic and steel drill collars, hole openers, and roller reamers, as well as drill pipe and drill pipe accessories; ancillary equipment and handling tools to support its rental platform, including float valves, ring gauges, tool baskets, lift bail, lift subs, mud magnets, elevators, bracket and bail assemblies, slips, tongs, stabbing guides and safety clamps; and blowout preventers, and pressure control accessory equipment.