Sidoti Csr Equities Analysts Lower Earnings Estimates for Drilling Tools International Co. (NASDAQ:DTI)

Drilling Tools International Co. (NASDAQ:DTI) – Sidoti Csr dropped their Q3 2024 earnings per share (EPS) estimates for shares of Drilling Tools International in a note issued to investors on Wednesday, August 7th. Sidoti Csr analyst S. Ferazani now expects that the company will post earnings per share of $0.04 for the quarter, down from their prior forecast of $0.16. The consensus estimate for Drilling Tools International’s current full-year earnings is $0.62 per share. Sidoti Csr also issued estimates for Drilling Tools International’s Q4 2024 earnings at $0.06 EPS, FY2024 earnings at $0.33 EPS, Q1 2025 earnings at $0.06 EPS, Q2 2025 earnings at $0.07 EPS, Q3 2025 earnings at $0.08 EPS, Q4 2025 earnings at $0.09 EPS and FY2025 earnings at $0.30 EPS.

Separately, Alliance Global Partners reduced their price objective on shares of Drilling Tools International from $8.50 to $7.50 and set a “buy” rating for the company in a research report on Wednesday.

Drilling Tools International Price Performance

DTI stock opened at $4.21 on Friday. Drilling Tools International has a 1 year low of $2.43 and a 1 year high of $6.36. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 1.59. The firm has a market capitalization of $125.33 million, a PE ratio of 9.79, a price-to-earnings-growth ratio of 0.75 and a beta of -0.92. The business has a 50 day simple moving average of $5.43 and a 200-day simple moving average of $4.55.

Drilling Tools International (NASDAQ:DTI) last announced its earnings results on Thursday, May 9th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). The business had revenue of $36.97 million for the quarter. Drilling Tools International had a return on equity of 16.85% and a net margin of 7.85%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DTI. Rhumbline Advisers purchased a new position in shares of Drilling Tools International during the 2nd quarter worth about $49,000. Gendell Jeffrey L purchased a new position in Drilling Tools International during the first quarter worth approximately $35,000. Bank of New York Mellon Corp purchased a new position in Drilling Tools International during the second quarter worth approximately $99,000. Fifth Lane Capital LP boosted its holdings in shares of Drilling Tools International by 12.6% in the 1st quarter. Fifth Lane Capital LP now owns 45,000 shares of the company’s stock valued at $135,000 after purchasing an additional 5,024 shares during the last quarter. Finally, Shaolin Capital Management LLC grew its stake in shares of Drilling Tools International by 14.0% during the 1st quarter. Shaolin Capital Management LLC now owns 83,217 shares of the company’s stock valued at $250,000 after buying an additional 10,204 shares during the period. 2.79% of the stock is currently owned by institutional investors and hedge funds.

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.