Dril-Quip, Inc. (DRQ) Releases Earnings Results, Beats Expectations By $0.06 EPS
Dril-Quip, Inc. (NYSE:DRQ) issued its quarterly earnings results on Friday. The oil and gas company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06, RTT News reports. The business had revenue of $127.90 million during the quarter, compared to the consensus estimate of $112.12 million. Dril-Quip had a net margin of 11.51% and a return on equity of 3.65%. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 earnings per share.
Shares of Dril-Quip (NYSE DRQ) traded down 11.67% on Friday, reaching $45.40. 1,440,322 shares of the company’s stock were exchanged. The company has a market capitalization of $1.71 billion, a P/E ratio of 84.39 and a beta of 0.65. Dril-Quip has a 12 month low of $45.35 and a 12 month high of $69.40. The firm’s 50 day moving average price is $49.90 and its 200-day moving average price is $54.56.
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Several research firms recently issued reports on DRQ. BidaskClub cut shares of Dril-Quip from a “hold” rating to a “sell” rating in a research report on Thursday. Piper Jaffray Companies set a $43.00 target price on shares of Dril-Quip and gave the stock a “hold” rating in a research report on Saturday. Zacks Investment Research raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Finally, Barclays PLC cut shares of Dril-Quip from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $77.00 to $57.00 in a research report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $60.75.
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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