Research Analysts Issue Forecasts for DTI FY2024 Earnings

Drilling Tools International Co. (NASDAQ:DTI) – Sidoti Csr increased their FY2024 earnings per share estimates for Drilling Tools International in a research report issued to clients and investors on Friday, November 15th. Sidoti Csr analyst S. Ferazani now anticipates that the company will post earnings of $0.36 per share for the year, up from their previous estimate of $0.33. The consensus estimate for Drilling Tools International’s current full-year earnings is $0.39 per share. Sidoti Csr also issued estimates for Drilling Tools International’s Q1 2025 earnings at $0.09 EPS, Q2 2025 earnings at $0.11 EPS and Q4 2025 earnings at $0.07 EPS.

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 on the stock in a research report on Friday.

Drilling Tools International Trading Up 0.3 %

NASDAQ DTI opened at $3.48 on Monday. The stock has a market capitalization of $120.79 million, a price-to-earnings ratio of 12.45, a PEG ratio of 1.05 and a beta of -0.96. The business’s fifty day moving average is $3.60 and its 200-day moving average is $4.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.97 and a quick ratio of 1.50. Drilling Tools International has a one year low of $2.43 and a one year high of $6.36.

Institutional Investors Weigh In On Drilling Tools International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DTI. Geode Capital Management LLC lifted its position in shares of Drilling Tools International by 31.5% during the third quarter. Geode Capital Management LLC now owns 209,808 shares of the company’s stock worth $783,000 after acquiring an additional 50,236 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Drilling Tools International during the 2nd quarter worth about $99,000. Woodstock Corp bought a new position in Drilling Tools International in the 3rd quarter worth about $57,000. Barclays PLC grew its holdings in Drilling Tools International by 414.6% during the 3rd quarter. Barclays PLC now owns 16,730 shares of the company’s stock valued at $62,000 after buying an additional 13,479 shares in the last quarter. Finally, Gendell Jeffrey L bought a new stake in shares of Drilling Tools International during the first quarter valued at about $35,000. 2.79% of the stock is currently owned by institutional investors.

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.