Equities research analysts expect Dril-Quip, Inc. (NYSE:DRQ) to announce sales of $85.44 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Dril-Quip’s earnings, with the highest sales estimate coming in at $87.00 million and the lowest estimate coming in at $82.70 million. Dril-Quip posted sales of $107.97 million in the same quarter last year, which suggests a negative year over year growth rate of 20.9%. The company is expected to announce its next earnings report on Tuesday, February 26th.
According to Zacks, analysts expect that Dril-Quip will report full year sales of $372.47 million for the current financial year, with estimates ranging from $363.80 million to $378.68 million. For the next year, analysts expect that the company will post sales of $357.01 million, with estimates ranging from $330.00 million to $382.10 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Dril-Quip.
Several equities research analysts have commented on the company. Zacks Investment Research upgraded Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. Barclays cut their price objective on Dril-Quip from $41.00 to $39.00 and set a “sell” rating for the company in a research note on Monday, October 29th. ValuEngine lowered Dril-Quip from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, JPMorgan Chase & Co. assumed coverage on Dril-Quip in a research note on Thursday, January 17th. They set a “neutral” rating for the company. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $48.50.
A number of large investors have recently bought and sold shares of DRQ. Vanguard Group Inc. grew its position in shares of Dril-Quip by 0.6% in the third quarter. Vanguard Group Inc. now owns 3,454,189 shares of the oil and gas company’s stock valued at $180,482,000 after purchasing an additional 20,778 shares in the last quarter. Vanguard Group Inc grew its position in shares of Dril-Quip by 0.6% in the third quarter. Vanguard Group Inc now owns 3,454,189 shares of the oil and gas company’s stock valued at $180,482,000 after purchasing an additional 20,778 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Dril-Quip by 9.1% in the third quarter. Alliancebernstein L.P. now owns 2,200,795 shares of the oil and gas company’s stock valued at $114,992,000 after purchasing an additional 183,841 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Dril-Quip by 0.7% in the fourth quarter. Fisher Asset Management LLC now owns 1,696,808 shares of the oil and gas company’s stock valued at $50,955,000 after purchasing an additional 12,067 shares in the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of Dril-Quip by 1.3% in the fourth quarter. Macquarie Group Ltd. now owns 693,576 shares of the oil and gas company’s stock valued at $20,828,000 after purchasing an additional 9,000 shares in the last quarter.
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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