Dril-Quip, Inc. (NYSE:DRQ) posted its quarterly earnings results on Friday. The oil and gas company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06, Bloomberg Earnings reports. The firm had revenue of $100.35 million for the quarter, compared to the consensus estimate of $106.74 million. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The business’s revenue was down 18.8% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share.
Dril-Quip (DRQ) opened at 41.50 on Friday. The stock has a market capitalization of $1.57 billion, a P/E ratio of 77.14 and a beta of 0.70. The company has a 50 day moving average of $42.65 and a 200 day moving average of $46.53. Dril-Quip has a 52 week low of $35.85 and a 52 week high of $69.40.
In related news, VP James C. Webster sold 2,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $43.49, for a total transaction of $86,980.00. Following the sale, the vice president now owns 24,104 shares in the company, valued at approximately $1,048,282.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.87% of the company’s stock.
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Several brokerages recently commented on DRQ. Cowen and Company set a $43.00 target price on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Friday, October 6th. Gabelli began coverage on shares of Dril-Quip in a research note on Friday, October 20th. They issued a “hold” rating and a $43.00 target price on the stock. Scotiabank set a $61.00 target price on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Monday, July 31st. BidaskClub downgraded shares of Dril-Quip from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, FBR & Co raised shares of Dril-Quip from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $49.00 to $55.00 in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Dril-Quip presently has an average rating of “Hold” and a consensus price target of $51.57.
Dril-Quip Company Profile
Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment. The Company’s operations are organized into three geographic segments: Western Hemisphere, including North and South America, headquartered in Houston, Texas; Eastern Hemisphere, including Europe and Africa, headquartered in Aberdeen, Scotland, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East, headquartered in Singapore.
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