Superior Drilling Products Inc to Post FY2019 Earnings of ($0.04) Per Share, Dougherty & Co Forecasts (NYSEAMERICAN:SDPI)

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Superior Drilling Products Inc (NYSEAMERICAN:SDPI) – Investment analysts at Dougherty & Co lowered their FY2019 EPS estimates for Superior Drilling Products in a research note issued on Monday, November 11th. Dougherty & Co analyst R. Ryan now forecasts that the oil and gas company will post earnings per share of ($0.04) for the year, down from their prior forecast of ($0.02).

Superior Drilling Products (NYSEAMERICAN:SDPI) last posted its earnings results on Thursday, November 7th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $5.08 million for the quarter, compared to analysts’ expectations of $4.94 million.

Several other analysts have also recently weighed in on the stock. Roth Capital set a $1.00 price objective on shares of Superior Drilling Products and gave the stock a “buy” rating in a research note on Monday, September 9th. Zacks Investment Research cut shares of Superior Drilling Products from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Imperial Capital reduced their price objective on shares of Superior Drilling Products from $2.00 to $1.50 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Superior Drilling Products presently has an average rating of “Buy” and an average target price of $1.25.

Shares of Superior Drilling Products stock opened at $0.89 on Wednesday. Superior Drilling Products has a twelve month low of $0.75 and a twelve month high of $2.20.

Several institutional investors have recently modified their holdings of the stock. Adirondack Research & Management Inc. boosted its position in Superior Drilling Products by 67.8% during the third quarter. Adirondack Research & Management Inc. now owns 295,282 shares of the oil and gas company’s stock valued at $288,000 after acquiring an additional 119,356 shares during the last quarter. Renaissance Technologies LLC boosted its position in Superior Drilling Products by 24.6% during the second quarter. Renaissance Technologies LLC now owns 504,446 shares of the oil and gas company’s stock valued at $509,000 after acquiring an additional 99,700 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in Superior Drilling Products during the second quarter valued at $670,000.

Superior Drilling Products Company Profile

Superior Drilling Products, Inc, a drilling and completion tool technology company, innovates, designs, engineers, manufactures, sells, rents, and repairs drilling and completion tools in the United States and internationally. The company manufactures and refurbishes polycrystalline diamond compact drill bits for an oil field services company.

See Also: Retained Earnings

Earnings History and Estimates for Superior Drilling Products (NYSEAMERICAN:SDPI)

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