Diamond Offshore Drilling, Inc. (NYSE:DO) – Investment analysts at Capital One Financial Corporation increased their FY2017 EPS estimates for shares of Diamond Offshore Drilling in a research report issued on Monday. Capital One Financial Corporation analyst J. Gibney now anticipates that the offshore drilling services provider will earn $1.04 per share for the year, up from their prior estimate of $1.03. Capital One Financial Corporation also issued estimates for Diamond Offshore Drilling’s Q2 2018 earnings at $0.04 EPS, Q3 2018 earnings at $0.05 EPS, Q4 2018 earnings at ($0.05) EPS and FY2018 earnings at $0.11 EPS.
A number of other equities analysts have also commented on DO. Jefferies Group LLC reiterated a “hold” rating and set a $12.00 price target (down previously from $14.00) on shares of Diamond Offshore Drilling in a report on Tuesday, July 18th. Zephirin Group restated a “sell” rating on shares of Diamond Offshore Drilling in a report on Wednesday, August 2nd. Seaport Global Securities reiterated a “sell” rating on shares of Diamond Offshore Drilling in a report on Monday, July 31st. Piper Jaffray Companies reiterated a “hold” rating and set a $12.50 price objective on shares of Diamond Offshore Drilling in a report on Thursday, August 3rd. Finally, BidaskClub lowered shares of Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Nine equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $14.48.
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Diamond Offshore Drilling (DO) opened at 17.30 on Wednesday. The firm has a market cap of $2.37 billion, a P/E ratio of 14.07 and a beta of 1.19. Diamond Offshore Drilling has a 12-month low of $10.06 and a 12-month high of $22.65. The firm’s 50-day moving average price is $14.69 and its 200 day moving average price is $12.86.
Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. Diamond Offshore Drilling had a return on equity of 6.25% and a net margin of 10.86%. The firm had revenue of $366.02 million for the quarter, compared to the consensus estimate of $365.38 million. During the same quarter in the prior year, the business earned $0.10 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year.
Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. bought a new position in Diamond Offshore Drilling during the second quarter valued at $118,000. BlueMountain Capital Management LLC bought a new position in shares of Diamond Offshore Drilling in the second quarter worth about $119,000. Zacks Investment Management bought a new position in shares of Diamond Offshore Drilling in the second quarter worth about $124,000. Victory Capital Management Inc. bought a new position in shares of Diamond Offshore Drilling in the third quarter worth about $126,000. Finally, M&T Bank Corp bought a new position in shares of Diamond Offshore Drilling in the second quarter worth about $139,000.
About Diamond Offshore Drilling
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry. As of December 31, 2016, the Company had a fleet of 24 offshore drilling rigs. As of December 31, 2016, its fleet consisted of four drillships, 19 semisubmersible rigs and one jack-up rig. Its fleet enables it to offer a range of services, primarily in the floater market, including ultra-deepwater, deepwater and mid-water.
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