Wall Street brokerages predict that Dril-Quip, Inc. (NYSE:DRQ) will report sales of $85.44 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Dril-Quip’s earnings, with the lowest sales estimate coming in at $82.70 million and the highest estimate coming in at $87.00 million. Dril-Quip reported sales of $107.97 million in the same quarter last year, which indicates a negative year over year growth rate of 20.9%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 26th.
On average, analysts expect that Dril-Quip will report full-year sales of $372.47 million for the current fiscal year, with estimates ranging from $363.80 million to $378.68 million. For the next financial year, analysts expect that the business will report sales of $357.01 million, with estimates ranging from $330.00 million to $382.10 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Dril-Quip.
A number of equities research analysts have recently commented on DRQ shares. Barclays lowered their target price on Dril-Quip from $41.00 to $39.00 and set a “sell” rating on the stock in a research note on Monday, October 29th. JPMorgan Chase & Co. began coverage on Dril-Quip in a report on Thursday, January 17th. They issued a “neutral” rating for the company. ValuEngine lowered Dril-Quip from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Finally, Zacks Investment Research lowered Dril-Quip from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $48.50.
Shares of NYSE DRQ traded down $0.26 during mid-day trading on Friday, reaching $38.84. 423,840 shares of the company’s stock were exchanged, compared to its average volume of 762,600. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 149.38 and a beta of 1.46. Dril-Quip has a 52 week low of $26.62 and a 52 week high of $58.95.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. HGK Asset Management Inc. increased its holdings in Dril-Quip by 6.0% in the 4th quarter. HGK Asset Management Inc. now owns 9,306 shares of the oil and gas company’s stock worth $279,000 after acquiring an additional 526 shares during the last quarter. First Hawaiian Bank grew its holdings 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 valued at $236,000 after buying an additional 740 shares in the last quarter. Legal & General Group Plc grew its holdings 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 valued at $2,432,000 after buying an additional 871 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings 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 valued at $1,599,000 after buying an additional 970 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings 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 valued at $679,000 after buying an additional 1,501 shares in the last quarter.
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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