Equities research analysts expect that Dril-Quip, Inc. (NYSE:DRQ) will report $97.71 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Dril-Quip’s earnings, with the highest sales estimate coming in at $102.00 million and the lowest estimate coming in at $94.73 million. Dril-Quip posted sales of $93.26 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.8%. The business is expected to issue its next quarterly earnings results on Thursday, October 24th.

On average, analysts expect that Dril-Quip will report full-year sales of $391.45 million for the current fiscal year, with estimates ranging from $380.00 million to $404.20 million. For the next year, analysts anticipate that the firm will post sales of $450.78 million, with estimates ranging from $390.47 million to $480.53 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Dril-Quip.

Dril-Quip (NYSE:DRQ) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Dril-Quip had a negative net margin of 23.06% and a negative return on equity of 1.04%. The firm had revenue of $104.00 million during the quarter, compared to analyst estimates of $97.19 million. During the same quarter in the previous year, the business posted ($0.24) EPS. Dril-Quip’s revenue for the quarter was up 9.6% compared to the same quarter last year.

A number of research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Worldline from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Gabelli upgraded shares of Dril-Quip from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Cowen reiterated a “buy” rating and issued a $220.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, April 30th. Finally, Zacks Investment Research lowered shares of Dril-Quip from a “buy” rating to a “hold” rating and set a $55.00 target price on the stock. in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $46.96.

Shares of NYSE:DRQ traded down $2.81 during trading hours on Friday, hitting $49.24. The stock had a trading volume of 9,725 shares, compared to its average volume of 323,637. The firm has a fifty day moving average price of $45.29. Dril-Quip has a 1-year low of $26.62 and a 1-year high of $55.05. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -78.16 and a beta of 1.48.

Hedge funds have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Dril-Quip by 8.1% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,582,537 shares of the oil and gas company’s stock worth $164,260,000 after buying an additional 268,954 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Dril-Quip by 518.2% during the first quarter. JPMorgan Chase & Co. now owns 726,638 shares of the oil and gas company’s stock valued at $33,317,000 after purchasing an additional 609,104 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Dril-Quip by 1.3% during 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 during the period. Wells Fargo & Company MN boosted its stake in shares of Dril-Quip by 23.7% during the first quarter. Wells Fargo & Company MN now owns 639,604 shares of the oil and gas company’s stock valued at $29,326,000 after purchasing an additional 122,529 shares during the period. Finally, Gamco Investors INC. ET AL boosted its stake in shares of Dril-Quip by 1.1% during the first quarter. Gamco Investors INC. ET AL now owns 626,728 shares of the oil and gas company’s stock valued at $28,735,000 after purchasing an additional 7,100 shares during the period.

About Dril-Quip

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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