Equities Analysts Issue Forecasts for DTI FY2024 Earnings

Drilling Tools International Co. (NASDAQ:DTI) – Analysts at Sidoti Csr increased their FY2024 EPS estimates for shares of Drilling Tools International in a report released on Friday, November 15th. Sidoti Csr analyst S. Ferazani now expects that the company will post earnings of $0.36 per share for the year, up from their prior 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 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 Price Performance

NASDAQ DTI opened at $3.38 on Monday. Drilling Tools International has a 12 month low of $2.43 and a 12 month high of $6.36. The firm has a market capitalization of $117.30 million, a PE ratio of 12.07, a P/E/G ratio of 1.01 and a beta of -0.96. The company’s 50 day simple moving average is $3.59 and its 200 day simple moving average is $4.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.32 and a quick ratio of 0.99.

Hedge Funds Weigh In On Drilling Tools International

Several large investors have recently made changes to their positions in DTI. Charles Schwab Investment Management Inc. lifted its stake in Drilling Tools International by 28.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 28,283 shares of the company’s stock valued at $105,000 after purchasing an additional 6,201 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Drilling Tools International during the 2nd quarter valued at $49,000. Shaolin Capital Management LLC lifted its position 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 acquiring an additional 10,204 shares during the last quarter. Gendell Jeffrey L acquired a new position in shares of Drilling Tools International in the 1st quarter worth $35,000. Finally, Barclays PLC raised its position in shares of Drilling Tools International by 414.6% during 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 during the period. 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.