DXP Enterprises Inc (NASDAQ:DXPE) Expected to Post Quarterly Sales of $332.30 Million

Wall Street brokerages predict that DXP Enterprises Inc (NASDAQ:DXPE) will report sales of $332.30 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for DXP Enterprises’ earnings. The highest sales estimate is $336.00 million and the lowest is $328.60 million. DXP Enterprises posted sales of $311.01 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.8%. The business is expected to report its next earnings report on Thursday, March 5th.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

According to Zacks, analysts expect that DXP Enterprises will report full year sales of $1.31 billion for the current fiscal year, with estimates ranging from $1.30 billion to $1.31 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.37 billion, with estimates ranging from $1.36 billion to $1.38 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover DXP Enterprises.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.10. DXP Enterprises had a net margin of 3.19% and a return on equity of 12.86%. The company had revenue of $327.18 million during the quarter, compared to analyst estimates of $323.44 million. During the same period in the previous year, the business earned $0.46 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis.

DXPE has been the subject of several recent analyst reports. BidaskClub raised shares of DXP Enterprises from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Zacks Investment Research downgraded shares of DXP Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, ValuEngine raised shares of DXP Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $47.00.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new position in shares of DXP Enterprises during the 2nd quarter valued at about $26,000. Nisa Investment Advisors LLC boosted its holdings in shares of DXP Enterprises by 192.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 760 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 500 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of DXP Enterprises by 8.6% during the 2nd quarter. Royal Bank of Canada now owns 5,956 shares of the industrial products company’s stock valued at $226,000 after purchasing an additional 470 shares during the last quarter. Aperio Group LLC boosted its holdings in shares of DXP Enterprises by 22.0% during the 2nd quarter. Aperio Group LLC now owns 7,694 shares of the industrial products company’s stock valued at $292,000 after purchasing an additional 1,387 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of DXP Enterprises during the 2nd quarter valued at about $311,000. 78.32% of the stock is owned by institutional investors and hedge funds.

NASDAQ DXPE traded up $0.06 during mid-day trading on Thursday, reaching $41.00. The stock had a trading volume of 69,400 shares, compared to its average volume of 77,741. The stock has a market cap of $634.22 million, a PE ratio of 21.13, a price-to-earnings-growth ratio of 0.86 and a beta of 2.64. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.56 and a quick ratio of 1.75. The company has a fifty day moving average price of $34.47 and a 200 day moving average price of $34.88. DXP Enterprises has a 1 year low of $26.95 and a 1 year high of $45.66.

About DXP Enterprises

DXP Enterprises, Inc engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services to energy and industrial customers in the United States. It operates in three segments: Service Centers, Supply Chain Services, and Innovative Pumping Solutions. The Service Centers segment offers MRO products, equipment, and integrated services, including technical expertise and logistics services.

Featured Article: Benefits of owning preferred stock

Get a free copy of the Zacks research report on DXP Enterprises (DXPE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for DXP Enterprises (NASDAQ:DXPE)

Leave a Reply

Your email address will not be published. Required fields are marked *

*