Dril-Quip, Inc. (NYSE:DRQ) – Equities researchers at Gabelli reduced their FY2020 EPS estimates for shares of Dril-Quip in a research report issued on Monday. Gabelli analyst S. Wong now anticipates that the oil and gas company will earn $1.50 per share for the year, down from their prior forecast of $1.60. Gabelli currently has a “Hold” rating and a $43.00 target price on the stock. Gabelli also issued estimates for Dril-Quip’s FY2021 earnings at $2.45 EPS.
DRQ has been the topic of a number of other research reports. BidaskClub lowered shares of Dril-Quip from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. TheStreet lowered shares of Dril-Quip from a “c” rating to a “d+” rating in a research note on Friday, October 27th. FBR & Co reaffirmed a “buy” rating on shares of Dril-Quip in a research note on Friday, October 27th. Wolfe Research raised shares of Dril-Quip from an “underperform” rating to a “market perform” rating in a research note on Tuesday, October 31st. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $38.00 price target on shares of Dril-Quip in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $48.57.
Shares of Dril-Quip (NYSE DRQ) traded down $2.00 on Wednesday, hitting $44.05. 493,726 shares of the stock were exchanged, compared to its average volume of 563,734. The company has a market cap of $1,845.70, a price-to-earnings ratio of 116.07 and a beta of 0.73. Dril-Quip has a 52-week low of $35.85 and a 52-week high of $69.40.
Dril-Quip (NYSE:DRQ) last announced its earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $100.35 million for the quarter, compared to analyst estimates of $106.74 million. Dril-Quip had a negative net margin of 6.14% and a positive return on equity of 1.19%. The company’s revenue for the quarter was down 18.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 EPS.
In related news, insider Blake T. Deberry sold 10,000 shares of Dril-Quip stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $44.66, for a total transaction of $446,600.00. Following the completion of the transaction, the insider now directly owns 126,208 shares of the company’s stock, valued at approximately $5,636,449.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP James C. Webster sold 2,000 shares of Dril-Quip stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $43.49, for a total transaction of $86,980.00. Following the completion of the transaction, the vice president now directly owns 24,104 shares of the company’s stock, valued at $1,048,282.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,662 shares of company stock valued at $2,013,999. 0.87% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new position in Dril-Quip in the third quarter worth about $484,000. Stifel Financial Corp raised its holdings in Dril-Quip by 8.8% in the third quarter. Stifel Financial Corp now owns 73,853 shares of the oil and gas company’s stock worth $3,271,000 after buying an additional 5,998 shares during the last quarter. OxFORD Asset Management LLP purchased a new position in Dril-Quip in the third quarter worth about $695,000. Schwab Charles Investment Management Inc. raised its holdings in Dril-Quip by 12.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 281,882 shares of the oil and gas company’s stock worth $12,446,000 after buying an additional 30,800 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Dril-Quip in the third quarter worth about $339,000.
COPYRIGHT VIOLATION WARNING: “Equities Analysts Offer Predictions for Dril-Quip, Inc.’s FY2020 Earnings (DRQ)” was posted by Stock Observer and is owned by of Stock Observer. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright & trademark legislation. The correct version of this report can be read at https://www.thestockobserver.com/2017/12/07/equities-analysts-offer-predictions-for-dril-quip-inc-s-fy2020-earnings-drq.html.
Dril-Quip Company Profile
Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment. The Company’s operations are organized into three geographic segments: Western Hemisphere, including North and South America, headquartered in Houston, Texas; Eastern Hemisphere, including Europe and Africa, headquartered in Aberdeen, Scotland, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East, headquartered in Singapore.
Receive News & Ratings for Dril-Quip Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dril-Quip Inc. and related companies with MarketBeat.com's FREE daily email newsletter.