Dril-Quip (NYSE: DRQ) has recently received a number of price target changes and ratings updates:
- 2/28/2018 – Dril-Quip was given a new $49.00 price target on by analysts at Barclays PLC. They now have an “equal weight” rating on the stock.
- 2/26/2018 – Dril-Quip was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “We view Dril-Quip as an attractive long-term investment based on its highly engineered offshore drilling and production equipment for deepwater severe-service applications and harsh environmental conditions. The company managed to beat the Zacks Consensus Estimate in three of the last four quarters, the average positive earnings surprise being 300.5%. The equipment supplier is also in excellent financial health with a sustainable free cash flow. Dril-Quip’s technically differentiated products and best-in-class margins make it an attractive investment. However, Dril-Quip’s price chart shows that it has lagged the industry over the last one year. The company’s price chart has declined by 30.7% in comparison the industry has moved down by 24.1%.”
- 2/23/2018 – Dril-Quip was given a new $55.00 price target on by analysts at B. Riley. They now have a “buy” rating on the stock.
- 2/22/2018 – Dril-Quip had its “equal weight” rating reaffirmed by analysts at Capital One Financial Corp..
- 1/26/2018 – Dril-Quip was upgraded by analysts at TheStreet from a “d+” rating to a “c-” rating.
- 1/11/2018 – Dril-Quip was given a new $45.00 price target on by analysts at Cowen Inc. They now have a “hold” rating on the stock.
- 1/3/2018 – Dril-Quip was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Dril-Quip’s stock showed significant pricing weaknesses over the last one year. During the aforesaid period, the company’s shares slipped 21.2%, whereas the broader industry lost 19.6%. Dril-Quip is also facing pressure on top line. Over the past three years (2014–2016), total revenues declined at a CAGR of 23.9%. Lower oil prices than mid-2014 may also hinder the company’s earnings potential. This is because weak crude may lead to lower exploration and production activities, in turn, limiting contracts for the Oil Field Machinery & Equipment industry. Other company-specific risks include new product growth challenges, potential backlog losses and high dependence on its top customers. Additionally, delays in deepwater infrastructure awards may also hinder the company’s growth prospects.”
- 12/31/2017 – Dril-Quip was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
Shares of Dril-Quip, Inc. (NYSE:DRQ) traded up $0.65 during trading on Thursday, hitting $45.70. 91,823 shares of the stock traded hands, compared to its average volume of 452,387. The stock has a market cap of $1,759.99, a PE ratio of -17.05 and a beta of 0.72. Dril-Quip, Inc. has a 1-year low of $35.85 and a 1-year high of $59.60.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.02). Dril-Quip had a positive return on equity of 0.55% and a negative net margin of 22.10%. The business had revenue of $107.97 million for the quarter, compared to analysts’ expectations of $99.73 million. During the same quarter in the prior year, the business earned $0.23 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. equities research analysts expect that Dril-Quip, Inc. will post 0.16 earnings per share for the current fiscal year.
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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