Brokerages expect DXP Enterprises Inc (NASDAQ:DXPE) to report sales of $328.45 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for DXP Enterprises’ earnings, with estimates ranging from $326.90 million to $330.00 million. DXP Enterprises posted sales of $308.03 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.6%. The firm is scheduled to issue its next quarterly earnings report on Monday, November 4th.
According to Zacks, analysts expect that DXP Enterprises will report full year sales of $1.31 billion for the current year, with estimates ranging from $1.30 billion to $1.31 billion. For the next year, analysts expect that the business will report sales of $1.37 billion, with estimates ranging from $1.36 billion to $1.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover DXP Enterprises.
DXP Enterprises (NASDAQ:DXPE) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. The business had revenue of $333.30 million during the quarter, compared to the consensus estimate of $331.07 million. DXP Enterprises had a return on equity of 12.86% and a net margin of 3.19%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 earnings per share.
A number of equities research analysts recently commented on the company. Sidoti downgraded DXP Enterprises from a “buy” rating to a “neutral” rating in a report on Thursday, July 11th. Zacks Investment Research downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a report on Monday, August 5th. ValuEngine downgraded DXP Enterprises from a “hold” rating to a “sell” rating in a report on Friday, July 12th. Stephens set a $47.00 price objective on DXP Enterprises and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, BidaskClub downgraded DXP Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. DXP Enterprises presently has an average rating of “Hold” and an average price target of $47.00.
NASDAQ DXPE traded down $0.49 on Thursday, reaching $31.62. The company had a trading volume of 56,300 shares, compared to its average volume of 80,656. The stock’s 50 day moving average is $33.95 and its 200-day moving average is $36.69. The stock has a market cap of $564.22 million, a price-to-earnings ratio of 16.30, a PEG ratio of 0.77 and a beta of 2.65. The company has a quick ratio of 1.75, a current ratio of 2.56 and a debt-to-equity ratio of 0.87. DXP Enterprises has a 52 week low of $26.95 and a 52 week high of $49.15.
A number of large investors have recently bought and sold shares of the business. Nuveen Asset Management LLC bought a new position in shares of DXP Enterprises during the second quarter worth approximately $8,671,000. Victory Capital Management Inc. increased its stake in shares of DXP Enterprises by 19.7% during the second quarter. Victory Capital Management Inc. now owns 49,089 shares of the industrial products company’s stock worth $1,860,000 after purchasing an additional 8,086 shares during the period. Morgan Stanley increased its stake in shares of DXP Enterprises by 9.5% during the second quarter. Morgan Stanley now owns 90,557 shares of the industrial products company’s stock worth $3,432,000 after purchasing an additional 7,822 shares during the period. AQR Capital Management LLC increased its stake in shares of DXP Enterprises by 54.8% during the second quarter. AQR Capital Management LLC now owns 20,437 shares of the industrial products company’s stock worth $774,000 after purchasing an additional 7,236 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of DXP Enterprises by 13.9% during the second quarter. Bank of America Corp DE now owns 20,061 shares of the industrial products company’s stock worth $760,000 after purchasing an additional 2,447 shares during the period. 79.37% of the stock is owned by hedge funds and other institutional investors.
DXP Enterprises Company Profile
DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates in three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.
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