Drilling Tools International (NASDAQ:DTI) Issues Quarterly Earnings Results

Drilling Tools International (NASDAQ:DTI) announced its quarterly earnings results on Thursday. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01, Zacks reports. Drilling Tools International had a return on equity of 15.38% and a net margin of 5.46%.

Drilling Tools International Stock Down 4.6 %

Shares of Drilling Tools International stock traded down $0.13 during trading on Thursday, hitting $2.71. 76,516 shares of the stock were exchanged, compared to its average volume of 48,989. The stock has a market cap of $96.46 million, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 0.90 and a beta of -0.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.32 and a quick ratio of 0.99. The firm’s 50-day moving average price is $3.21 and its 200 day moving average price is $3.45. Drilling Tools International has a 12-month low of $2.50 and a 12-month high of $6.36.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners lowered their price objective on shares of Drilling Tools International from $7.50 to $5.50 and set a “buy” rating for the company in a research report on Friday, November 15th.

About Drilling Tools International

Drilling Tools International Corporation provides oilfield equipment and services to oil and natural gas sectors in North America, Europe, and the Middle East. It offers downhole tool rentals, machining, and inspection services to support the global drilling and wellbore construction industry. The company also provides products are bottom hole assembly components, such as stabilizers, subs, non-magnetic and steel drill collars, hole openers, and roller reamers, as well as drill pipe and drill pipe accessories; ancillary equipment and handling tools to support its rental platform, including float valves, ring gauges, tool baskets, lift bail, lift subs, mud magnets, elevators, bracket and bail assemblies, slips, tongs, stabbing guides and safety clamps; and blowout preventers, and pressure control accessory equipment.