Wall Street brokerages expect that Dril-Quip, Inc. (NYSE:DRQ) will announce earnings per share (EPS) of ($0.23) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Dril-Quip’s earnings. The lowest EPS estimate is ($0.30) and the highest is ($0.12). Dril-Quip reported earnings of $0.01 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 2,400%. The firm is scheduled to announce its next earnings results on Tuesday, February 26th.

According to Zacks, analysts expect that Dril-Quip will report full-year earnings of ($0.77) per share for the current fiscal year, with EPS estimates ranging from ($0.90) to ($0.60). For the next year, analysts expect that the company will report earnings of ($0.29) per share, with EPS estimates ranging from ($0.85) to $0.05. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Dril-Quip.

Dril-Quip (NYSE:DRQ) last released its quarterly earnings data on Thursday, October 25th. The oil and gas company reported ($0.20) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.01. The company had revenue of $93.26 million during the quarter, compared to the consensus estimate of $85.96 million. Dril-Quip had a negative net margin of 23.34% and a negative return on equity of 1.95%.

A number of research firms have commented on DRQ. Zacks Investment Research reiterated a “hold” rating on shares of Dril-Quip in a report on Tuesday. ValuEngine downgraded shares of Dril-Quip from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. B. Riley downgraded shares of Dril-Quip from a “buy” rating to a “neutral” rating and raised their price target for the stock from $50.00 to $58.00 in a report on Friday, July 20th. Barclays downgraded shares of Dril-Quip from an “equal weight” rating to an “underweight” rating and set a $41.00 price target for the company. in a report on Tuesday, July 31st. Finally, Piper Jaffray Companies set a $40.00 price target on shares of Dril-Quip and gave the stock a “hold” rating in a report on Friday, July 27th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $48.50.

In other Dril-Quip news, COO James A. Gariepy sold 14,431 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $41.54, for a total value of $599,463.74. Following the completion of the transaction, the chief operating officer now owns 117,404 shares of the company’s stock, valued at approximately $4,876,962.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeffrey J. Bird sold 3,190 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $41.54, for a total transaction of $132,512.60. Following the completion of the transaction, the chief financial officer now directly owns 31,231 shares of the company’s stock, valued at approximately $1,297,335.74. The disclosure for this sale can be found here. Insiders sold a total of 42,600 shares of company stock valued at $1,802,081 in the last quarter. 1.10% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of DRQ. Advisors Preferred LLC purchased a new position in Dril-Quip in the 2nd quarter valued at approximately $135,000. Crossmark Global Holdings Inc. purchased a new position in Dril-Quip in the 2nd quarter valued at approximately $226,000. Unison Advisors LLC purchased a new position in Dril-Quip in the 2nd quarter valued at approximately $229,000. Tower Research Capital LLC TRC boosted its position in Dril-Quip by 148.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,529 shares of the oil and gas company’s stock valued at $233,000 after buying an additional 2,708 shares during the period. Finally, Jane Street Group LLC purchased a new position in Dril-Quip in the 3rd quarter valued at approximately $243,000.

DRQ stock opened at $41.13 on Tuesday. Dril-Quip has a 12 month low of $38.40 and a 12 month high of $58.95.

Dril-Quip announced that its board has authorized a stock buyback plan on Thursday, July 26th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the oil and gas company to buy up to 4.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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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Earnings History and Estimates for Dril-Quip (NYSE:DRQ)

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