Dril-Quip, Inc. (NYSE:DRQ) – Stock analysts at Capital One Financial lowered their FY2020 earnings per share estimates for shares of Dril-Quip in a research note issued to investors on Wednesday, July 10th. Capital One Financial analyst L. Lemoine now forecasts that the oil and gas company will post earnings of $0.81 per share for the year, down from their prior forecast of $1.13.
Dril-Quip (NYSE:DRQ) last announced its earnings results on Thursday, April 25th. The oil and gas company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The business had revenue of $94.30 million for the quarter, compared to the consensus estimate of $95.89 million. Dril-Quip had a negative return on equity of 1.88% and a negative net margin of 24.85%. Dril-Quip’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.16) EPS.
Several other brokerages have also recently commented on DRQ. Cowen restated a “buy” rating and set a $220.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, April 30th. Gabelli upgraded Dril-Quip from a “hold” rating to a “buy” rating in a report on Monday, April 29th. ValuEngine upgraded Yandex from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Finally, Zacks Investment Research cut GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $46.64.
Shares of DRQ stock opened at $46.55 on Friday. The business’s fifty day simple moving average is $43.55. The company has a market capitalization of $1.69 billion, a PE ratio of -73.89 and a beta of 1.48. Dril-Quip has a 52 week low of $26.62 and a 52 week high of $58.95.
Several hedge funds have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Dril-Quip by 8.1% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,582,537 shares of the oil and gas company’s stock valued at $164,260,000 after acquiring an additional 268,954 shares during the last quarter. TVR Capital Management LP boosted its holdings in Dril-Quip by 371.8% in the fourth quarter. TVR Capital Management LP now owns 211,376 shares of the oil and gas company’s stock valued at $6,348,000 after acquiring an additional 166,576 shares during the last quarter. Citigroup Inc. boosted its holdings in Dril-Quip by 115.7% in the fourth quarter. Citigroup Inc. now owns 19,875 shares of the oil and gas company’s stock valued at $597,000 after acquiring an additional 10,659 shares during the last quarter. Unison Advisors LLC bought a new position in Dril-Quip in the first quarter valued at about $204,000. Finally, Texas Permanent School Fund boosted its holdings in Dril-Quip by 5.5% in the first quarter. Texas Permanent School Fund now owns 24,707 shares of the oil and gas company’s stock valued at $1,133,000 after acquiring an additional 1,295 shares during 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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