Imperial Capital Comments on Superior Drilling Products, Inc.’s FY2018 Earnings (SDPI)

Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) – Imperial Capital lifted their FY2018 earnings per share (EPS) estimates for shares of Superior Drilling Products in a report released on Wednesday. Imperial Capital analyst J. Wangler now anticipates that the oil and gas company will post earnings of $0.10 per share for the year, up from their prior forecast of $0.09.

Superior Drilling Products (NYSEAMERICAN:SDPI) last issued its quarterly earnings data on Thursday, November 9th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $4.45 million for the quarter, compared to analyst estimates of $4.13 million.

Several other research analysts have also recently weighed in on SDPI. Zacks Investment Research upgraded shares of Superior Drilling Products from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a report on Tuesday, November 14th. ValuEngine cut shares of Superior Drilling Products from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, TheStreet upgraded shares of Superior Drilling Products from a “d” rating to a “c-” rating in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Superior Drilling Products has an average rating of “Hold” and a consensus price target of $1.75.

Shares of Superior Drilling Products (NYSEAMERICAN SDPI) traded up $0.02 during midday trading on Friday, reaching $1.45. 24,682 shares of the company were exchanged, compared to its average volume of 106,765. The firm has a market capitalization of $33.94, a PE ratio of -16.11 and a beta of -1.97. Superior Drilling Products has a 52-week low of $0.59 and a 52-week high of $1.77.

An institutional investor recently raised its position in Superior Drilling Products stock. Adirondack Research & Management Inc. boosted its position in shares of Superior Drilling Products, Inc. (NYSEAMERICAN:SDPI) by 2,836.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 616,733 shares of the oil and gas company’s stock after acquiring an additional 595,733 shares during the quarter. Adirondack Research & Management Inc. owned 2.55% of Superior Drilling Products worth $493,000 at the end of the most recent reporting period.

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Superior Drilling Products Company Profile

Superior Drilling Products, Inc, a drilling and completion tool technology company, innovates, designs, engineers, manufactures, sells, rents, and repairs drilling and completion tools in the United States and internationally. It is involved in the design and manufacture of new drill bit and horizontal drill string enhancement tools for the oil, natural gas, and mining services industries; and the refurbishment of polycrystalline diamond compact drill bits.

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