Dril-Quip (DRQ - Free Report) which manufactures, sells, and services offshore drilling and production equipment could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on DRQ’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Dril-Quip could be a solid choice for investors.
Current Quarter Estimates for DRQ
In the past 30 days, one estimate has gone higher for Dril-Quip while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from break-even level 30 days ago to earnings of 1 cent today.
Current Year Estimates for DRQ
Meanwhile, Dril-Quip’s current year figures are also looking quite promising, with oneestimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 7 cents per share 30 days ago to 8 cents per share today, an increase of 14.3%.
The stock has also started to move higher lately, adding 18.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.You can see the complete list of today’s Zacks #1 Rank (Stron Buy) stocks here.
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