Wall Street analysts expect Dril-Quip, Inc. (NYSE:DRQ) to announce sales of $88.78 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Dril-Quip’s earnings. The lowest sales estimate is $85.00 million and the highest is $90.10 million. Dril-Quip posted sales of $108.45 million in the same quarter last year, which suggests a negative year-over-year growth rate of 18.1%. The business is scheduled to issue its next earnings results on Thursday, February 25th.
On average, analysts expect that Dril-Quip will report full-year sales of $366.67 million for the current year, with estimates ranging from $362.70 million to $368.12 million. For the next year, analysts anticipate that the company will post sales of $338.14 million, with estimates ranging from $312.30 million to $368.82 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Dril-Quip.
A number of equities research analysts have issued reports on the company. Cowen cut their price target on Dril-Quip from $29.00 to $28.00 and set a “market perform” rating for the company in a research note on Wednesday, November 4th. Zacks Investment Research downgraded shares of Dril-Quip from a “hold” rating to a “sell” rating and set a $35.00 price objective for the company. in a report on Monday, January 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Dril-Quip currently has a consensus rating of “Hold” and an average price target of $31.88.
Several large investors have recently made changes to their positions in DRQ. Steward Partners Investment Advisory LLC lifted its holdings in shares of Dril-Quip by 294.1% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,344 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 1,003 shares during the last quarter. Veriti Management LLC bought a new position in shares of Dril-Quip in the 4th quarter valued at about $45,000. M&T Bank Corp bought a new position in shares of Dril-Quip in the 4th quarter valued at about $202,000. First Trust Advisors LP bought a new position in shares of Dril-Quip in the 3rd quarter valued at about $203,000. Finally, GSA Capital Partners LLP bought a new position in shares of Dril-Quip in the 3rd quarter valued at about $210,000.
DRQ stock traded down $0.27 during trading on Tuesday, reaching $35.17. The company’s stock had a trading volume of 137,405 shares, compared to its average volume of 194,426. Dril-Quip has a 1 year low of $22.25 and a 1 year high of $38.76. The company has a market capitalization of $1.23 billion, a P/E ratio of -107.39 and a beta of 1.54. The company’s fifty day moving average is $32.86 and its 200-day moving average is $30.36.
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. The company's principal products include subsea and surface wellheads, subsea and surface production trees, subsea control systems and manifolds, mudline hanger systems, specialty connectors and associated pipes, drilling and production riser systems, liner hangers, wellhead connectors, diverters, and safety valves, as well as downhole tools.
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