Sidoti Csr Has Positive Outlook of DTI FY2024 Earnings

Drilling Tools International Co. (NASDAQ:DTI) – Investment analysts at Sidoti Csr boosted their FY2024 EPS estimates for shares of Drilling Tools International in a research note issued on Friday, February 21st. Sidoti Csr analyst S. Ferazani now forecasts that the company will earn $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 lowered their price target on Drilling Tools International from $7.50 to $5.50 and set a “buy” rating on the stock in a research note on Friday, November 15th.

Drilling Tools International Stock Up 8.6 %

Shares of DTI opened at $3.28 on Monday. 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 50-day simple moving average of $3.26 and a 200-day simple moving average of $3.53. Drilling Tools International has a 52 week low of $2.50 and a 52 week high of $6.36. The firm has a market capitalization of $116.74 million, a P/E ratio of 11.71, a P/E/G ratio of 0.90 and a beta of -0.86.

Institutional Investors Weigh In On Drilling Tools International

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Drilling Tools International by 28.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 28,283 shares of the company’s stock valued at $105,000 after buying an additional 6,201 shares in the last quarter. Geode Capital Management LLC increased its stake in Drilling Tools International by 31.5% in the third quarter. Geode Capital Management LLC now owns 209,808 shares of the company’s stock valued at $783,000 after acquiring an additional 50,236 shares during the period. Barclays PLC raised its position in Drilling Tools International by 414.6% in the third quarter. Barclays PLC now owns 16,730 shares of the company’s stock worth $62,000 after purchasing an additional 13,479 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Drilling Tools International by 189.5% during the third quarter. JPMorgan Chase & Co. now owns 20,241 shares of the company’s stock worth $75,000 after purchasing an additional 13,249 shares during the period. Finally, Soltis Investment Advisors LLC acquired a new stake in Drilling Tools International during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds 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.