Wall Street brokerages forecast that Dril-Quip, Inc. (NYSE:DRQ) will post sales of $105.50 million for the current quarter, Zacks reports. Two analysts have provided estimates for Dril-Quip’s earnings, with the lowest sales estimate coming in at $105.00 million and the highest estimate coming in at $106.00 million. Dril-Quip reported sales of $93.26 million during the same quarter last year, which indicates a positive year over year growth rate of 13.1%. The firm is scheduled to report its next earnings results on Thursday, October 24th.
According to Zacks, analysts expect that Dril-Quip will report full year sales of $410.31 million for the current financial year, with estimates ranging from $408.39 million to $415.18 million. For the next financial year, analysts expect that the firm will report sales of $473.12 million, with estimates ranging from $457.34 million to $508.78 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Dril-Quip.
Dril-Quip (NYSE:DRQ) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). Dril-Quip had a negative return on equity of 1.04% and a negative net margin of 23.06%. The company had revenue of $104.00 million for the quarter, compared to analyst estimates of $97.19 million. During the same period in the prior year, the firm posted ($0.24) earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year.
Shares of Dril-Quip stock traded up $0.01 on Wednesday, reaching $48.07. 239,069 shares of the company were exchanged, compared to its average volume of 433,724. Dril-Quip has a 1-year low of $26.62 and a 1-year high of $56.71. The company has a market cap of $1.75 billion, a P/E ratio of -76.30 and a beta of 1.50. The stock’s 50 day moving average price is $49.31 and its 200-day moving average price is $46.03.
In other news, VP James C. Webster sold 6,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $48.90, for a total transaction of $293,400.00. Following the completion of the transaction, the vice president now directly owns 36,600 shares of the company’s stock, valued at $1,789,740. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jeffrey J. Bird sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $48.91, for a total value of $146,730.00. Following the completion of the transaction, the chief financial officer now directly owns 33,826 shares of the company’s stock, valued at $1,654,429.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,000 shares of company stock valued at $956,430. Corporate insiders own 0.97% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Kavar Capital Partners LLC acquired a new position in Dril-Quip in the second quarter valued at approximately $27,000. NumerixS Investment Technologies Inc boosted its holdings in Dril-Quip by 450.0% in the second quarter. NumerixS Investment Technologies Inc now owns 1,100 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 900 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Dril-Quip in the second quarter valued at approximately $62,000. GYL Financial Synergies LLC acquired a new position in Dril-Quip in the first quarter valued at approximately $221,000. Finally, HM Payson & Co. acquired a new position in Dril-Quip in the second quarter valued at approximately $288,000.
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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