Equities Analysts Issue Forecasts for DTI FY2024 Earnings

Drilling Tools International Co. (NASDAQ:DTI) – Analysts at Sidoti Csr upped their FY2024 earnings per share (EPS) estimates for shares of Drilling Tools International in a research note issued on Friday, February 21st. Sidoti Csr analyst S. Ferazani now expects that the company will post earnings of $0.38 per share for the year, up from their prior forecast of $0.36. The consensus estimate for Drilling Tools International’s current full-year earnings is $0.38 per share. Sidoti Csr also issued estimates for Drilling Tools International’s Q4 2024 earnings at $0.01 EPS, Q1 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.12 EPS, FY2025 earnings at $0.42 EPS and FY2026 earnings at $0.47 EPS.

Separately, Alliance Global Partners dropped their price target on Drilling Tools International from $7.50 to $5.50 and set a “buy” rating on the stock in a research report on Friday, November 15th.

Drilling Tools International Stock Down 4.5 %

Drilling Tools International stock opened at $3.05 on Monday. Drilling Tools International has a fifty-two week low of $2.50 and a fifty-two week high of $6.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.99 and a current ratio of 1.32. The company has a market capitalization of $108.37 million, a P/E ratio of 10.88, a PEG ratio of 0.90 and a beta of -0.86. The stock has a 50-day simple moving average of $3.26 and a 200-day simple moving average of $3.54.

Institutional Investors Weigh In On Drilling Tools International

Institutional investors have recently modified their holdings of the company. Soltis Investment Advisors LLC purchased a new stake in Drilling Tools International in the 4th quarter valued at approximately $36,000. Rhumbline Advisers lifted its stake in Drilling Tools International by 42.8% in the 4th quarter. Rhumbline Advisers now owns 12,689 shares of the company’s stock valued at $41,000 after buying an additional 3,806 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in Drilling Tools International in the 4th quarter valued at approximately $43,000. BNP Paribas Financial Markets purchased a new stake in Drilling Tools International in the 4th quarter valued at approximately $46,000. Finally, Wellington Management Group LLP purchased a new stake in Drilling Tools International in the 4th quarter valued at approximately $52,000. Hedge funds and other institutional investors own 2.79% of the company’s stock.

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.