Sidoti Research Analysts Lower Earnings Estimates for DTI

Drilling Tools International Corp. (NASDAQ:DTI) – Analysts at Sidoti decreased their FY2027 EPS estimates for Drilling Tools International in a research note issued to investors on Thursday, October 15th. Sidoti analyst S. Ferazani now expects that the company will post earnings of $0.16 per share for the year, down from their previous forecast of $0.30. The consensus estimate for Drilling Tools International’s current full-year earnings is $0.04 per share.

Several other equities analysts also recently commented on the stock. Weiss Ratings downgraded shares of Drilling Tools International from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. Zacks Research lowered Drilling Tools International from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $2.80 price target on shares of Drilling Tools International in a research report on Sunday, August 9th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Drilling Tools International currently has an average rating of “Reduce” and an average target price of $2.80.

Drilling Tools International Stock Performance

Shares of NASDAQ:DTI opened at $1.86 on Monday. The stock has a market capitalization of $65.62 million, a PE ratio of 186.00, a P/E/G ratio of 5.17 and a beta of -0.61. Drilling Tools International has a 1 year low of $1.61 and a 1 year high of $4.69. The firm has a fifty day moving average price of $2.40 and a 200 day moving average price of $2.62. The company has a current ratio of 2.18, a quick ratio of 1.58 and a debt-to-equity ratio of 0.40.

Drilling Tools International (NASDAQ:DTI) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Drilling Tools International had a positive return on equity of 0.58% and a negative net margin of 1.97%. The business had revenue of $38.07 million for the quarter, compared to analyst estimates of $38.72 million.

Hedge Funds Weigh In On Drilling Tools International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Management Group Inc. bought a new position in shares of Drilling Tools International in the second quarter valued at approximately $3,361,000. Walleye Capital LLC acquired a new stake in shares of Drilling Tools International in the first quarter worth $1,243,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Drilling Tools International in the first quarter worth $954,000. Empowered Funds LLC acquired a new stake in shares of Drilling Tools International in the second quarter worth $103,000. Finally, Bank of America Corp DE bought a new stake in shares of Drilling Tools International during the 2nd quarter worth $263,000. Institutional investors and hedge funds own 2.79% of the company’s stock.

About Drilling Tools International

Drilling Tools International Corp. (NASDAQ: DTI) is an oilfield services company that provides downhole drilling tools and related equipment to exploration and production companies, drilling contractors and other energy-sector customers. The company’s offerings are designed for use in onshore and offshore drilling operations, including applications involving directional drilling, well construction and completion.

Its product portfolio includes drill collars, heavy-weight drill pipe, stabilizers, subs, drilling jars, downhole motors and other specialized drilling tools.