Dril-Quip (NYSE:DRQ – Get Free Report) posted its quarterly earnings results on Thursday. The oil and gas company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07), Briefing.com reports. Dril-Quip had a negative net margin of 5.69% and a negative return on equity of 2.48%. The firm had revenue of $120.34 million for the quarter, compared to the consensus estimate of $118.85 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The company’s quarterly revenue was up 34.3% compared to the same quarter last year.
Dril-Quip Trading Down 6.1 %
Shares of NYSE DRQ opened at $15.22 on Friday. Dril-Quip has a 12 month low of $15.20 and a 12 month high of $30.93. The firm has a market capitalization of $523.87 million, a PE ratio of -23.78 and a beta of 0.87. The firm has a fifty day simple moving average of $17.63 and a two-hundred day simple moving average of $19.94.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Barclays decreased their price objective on shares of Dril-Quip from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Tuesday, May 14th. StockNews.com lowered shares of Dril-Quip from a “hold” rating to a “sell” rating in a report on Friday.
Dril-Quip Company Profile
Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services engineered drilling and production equipment for offshore and onshore applications worldwide. The company's principal products include subsea and surface wellheads, specialty connectors and associated pipes, subsea production trees and systems, mudline hanger systems, production riser systems, dry tree systems, subsea manifolds, line hangers and expandable liner systems, multi-frac well connections, conventional wellheads, thermal wellheads, completion packers, and safety and kelly valves; and rig equipment comprises drilling riser systems, wellhead connectors, diverters, and cement manifolds.
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