KeyCorp Equities Analysts Lower Earnings Estimates for DXP Enterprises Inc (NASDAQ:DXPE)

DXP Enterprises Inc (NASDAQ:DXPE) – KeyCorp reduced their Q4 2019 earnings estimates for DXP Enterprises in a research note issued on Thursday, November 7th, according to Zacks Investment Research. KeyCorp analyst S. Barger now expects that the industrial products company will earn $0.61 per share for the quarter, down from their previous forecast of $0.71. KeyCorp also issued estimates for DXP Enterprises’ Q1 2020 earnings at $0.49 EPS, Q2 2020 earnings at $0.81 EPS, Q3 2020 earnings at $0.78 EPS and Q4 2020 earnings at $0.67 EPS.

A number of other brokerages also recently issued reports on DXPE. BidaskClub downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a report on Monday, November 18th. ValuEngine downgraded DXP Enterprises from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. Finally, Zacks Investment Research downgraded DXP Enterprises from a “hold” rating to a “sell” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $47.00.

Shares of NASDAQ:DXPE traded up $0.36 during midday trading on Monday, reaching $37.85. 57,638 shares of the company’s stock traded hands, compared to its average volume of 54,086. The company has a market cap of $678.25 million, a price-to-earnings ratio of 19.51 and a beta of 2.70. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.85 and a current ratio of 2.71. DXP Enterprises has a one year low of $26.95 and a one year high of $45.66. The stock has a 50 day moving average of $37.03 and a 200 day moving average of $34.67.

DXP Enterprises (NASDAQ:DXPE) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.10. The firm had revenue of $327.18 million for the quarter, compared to the consensus estimate of $323.44 million. DXP Enterprises had a return on equity of 13.87% and a net margin of 3.51%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 earnings per share.

In other DXP Enterprises news, VP Christopher T. Gregory sold 1,432 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $39.75, for a total value of $56,922.00. Following the transaction, the vice president now owns 25,002 shares of the company’s stock, valued at $993,829.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.40% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC bought a new position in DXP Enterprises in the second quarter valued at about $26,000. Nisa Investment Advisors LLC increased its position in DXP Enterprises by 192.3% in the second quarter. Nisa Investment Advisors LLC now owns 760 shares of the industrial products company’s stock worth $29,000 after buying an additional 500 shares in the last quarter. Royal Bank of Canada increased its position in DXP Enterprises by 8.6% in the second quarter. Royal Bank of Canada now owns 5,956 shares of the industrial products company’s stock worth $226,000 after buying an additional 470 shares in the last quarter. Zebra Capital Management LLC purchased a new stake in DXP Enterprises in the third quarter worth about $227,000. Finally, Aperio Group LLC increased its position in DXP Enterprises by 22.0% in the second quarter. Aperio Group LLC now owns 7,694 shares of the industrial products company’s stock worth $292,000 after buying an additional 1,387 shares in the last quarter. 79.54% of the stock is currently owned by institutional investors.

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.

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

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