Dril-Quip, Inc. (NYSE:DRQ) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Dril-Quip, Inc. (NYSE:DRQ) released its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.03 by $0.06, RTT News reports. Dril-Quip had a return on equity of 2.12% and a net margin of 4.28%. The company had revenue of $127.90 million for the quarter, compared to analyst estimates of $112.12 million. During the same period last year, the company posted $0.96 earnings per share. The firm’s revenue was down 10.2% compared to the same quarter last year.

Shares of Dril-Quip (DRQ) traded down 1.31% during midday trading on Wednesday, reaching $41.40. The company had a trading volume of 353,523 shares. The company has a market capitalization of $1.57 billion, a P/E ratio of 76.95 and a beta of 0.63. Dril-Quip has a 12 month low of $40.75 and a 12 month high of $69.40. The firm’s 50 day moving average price is $48.70 and its 200-day moving average price is $53.93.

Several analysts have recently weighed in on DRQ shares. Piper Jaffray Companies set a $43.00 target price on Dril-Quip and gave the company a “hold” rating in a research note on Saturday, July 29th. Zacks Investment Research upgraded Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Barclays PLC downgraded Dril-Quip from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $77.00 to $57.00 in a research note on Monday, May 1st. Scotiabank set a $61.00 price target on Dril-Quip and gave the stock a “hold” rating in a research note on Monday, July 31st. Finally, Cowen and Company decreased their target price on Dril-Quip from $55.00 to $43.00 and set a “market perform” rating for the company in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $56.00.

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About Dril-Quip

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.