Dril-Quip downgraded at Barclays as Q2 results reveal fundamental problems [Seeking Alpha]
Dril-Quip, Inc. (DRQ)
Last dril-quip, inc. earnings: 2/27 05:36 pm
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Source: Seeking Alpha
Dril-Quip downgraded at Barclays as Q2 results reveal fundamental problemsDril-Quip (DRQ-1.4%) dips lower after Barclaysdowngrades shares to Underweight from Equal Weight with a $41 price target followingweak Q2 results.The firm says a plunge in gross margins revealed deeper, fundamental issues that DRQ is addressing by recalibrating the size and scope of its business to better reflect the realities of a slowly growing offshore market.With higher Brent prices driving a bullish offshore narrative, shares of DRQ have outperformed handily since March, but Barclays believes investor optimism is misplaced as the company faces a smaller, slower growing and more competitive offshore market in the next several years.See all stocks on the move »Now read:Financial Exchange Stock Talk: J Mintzmyer On Teekay LNG Partners And Golar LNG »Subscribefor full text news in your inbox
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DRQ
News
- Dril-Quip (DRQ) Q1 Earnings Decline Y/Y on Increased Costs [Yahoo! Finance]Yahoo! Finance
- Dril-Quip, Inc. Announces First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Dril-Quip, Inc. Announces First Quarter 2024 ResultsAccesswire
- Why Is DrilQuip (DRQ) Down 2.2% Since Last Earnings Report? [Yahoo! Finance]Yahoo! Finance
- SHAREHOLDER UPDATE: Halper Sadeh LLC Investigates DRQ, FUSN, LABP, FXNCGlobeNewswire
DRQ
Earnings
- 2/26/24 - Miss
DRQ
Sec Filings
- 5/8/24 - Form 8-K
- 5/8/24 - Form 8-K
- 5/8/24 - Form 425
- DRQ's page on the SEC website