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

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

Dril-Quip (NYSE DRQ) traded down 0.92% on Thursday, hitting $37.80. 360,350 shares of the stock traded hands. Dril-Quip has a 12 month low of $37.50 and a 12 month high of $69.40. The firm has a 50-day moving average price of $46.63 and a 200-day moving average price of $52.58. The company has a market capitalization of $1.43 billion, a PE ratio of 70.26 and a beta of 0.63.

A number of equities research analysts have recently weighed in on the stock. BidaskClub raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Piper Jaffray Companies set a $43.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Saturday, July 29th. Scotiabank set a $61.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Monday, July 31st. Finally, Barclays PLC lowered shares of Dril-Quip from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $77.00 to $57.00 in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $56.00.

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.