Jefferies Group LLC set a $15.00 price target on Diamond Offshore Drilling, Inc. (NYSE:DO) in a research note published on Monday morning. The brokerage currently has a hold rating on the offshore drilling services provider’s stock. Jefferies Group also issued estimates for Diamond Offshore Drilling’s Q4 2017 earnings at $0.02 EPS, FY2017 earnings at $0.87 EPS, Q1 2018 earnings at ($0.01) EPS, Q2 2018 earnings at $0.07 EPS, Q3 2018 earnings at $0.12 EPS, Q4 2018 earnings at ($0.02) EPS, FY2018 earnings at $0.15 EPS, FY2019 earnings at ($0.45) EPS and FY2020 earnings at ($1.05) EPS.
Several other equities research analysts also recently weighed in on DO. Zephirin Group reissued a sell rating on shares of Diamond Offshore Drilling in a research report on Wednesday, August 2nd. Seaport Global Securities reissued a sell rating on shares of Diamond Offshore Drilling in a research report on Monday, July 31st. Piper Jaffray Companies reissued a hold rating and issued a $12.50 target price on shares of Diamond Offshore Drilling in a research report on Thursday, August 3rd. BidaskClub downgraded shares of Diamond Offshore Drilling from a sell rating to a strong sell rating in a research report on Friday, August 11th. Finally, Pareto Securities raised shares of Diamond Offshore Drilling from a hold rating to a buy rating and set a $12.00 price objective for the company in a research report on Friday, August 18th. Nine analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $14.48.
Diamond Offshore Drilling (NYSE:DO) last released its earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The company had revenue of $366.02 million during the quarter, compared to the consensus estimate of $365.38 million. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 EPS.
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Several large investors have recently modified their holdings of the company. American Century Companies Inc. lifted its stake in shares of Diamond Offshore Drilling by 94.4% in the 3rd quarter. American Century Companies Inc. now owns 304,584 shares of the offshore drilling services provider’s stock worth $4,416,000 after acquiring an additional 147,939 shares during the period. Gabelli Funds LLC lifted its stake in shares of Diamond Offshore Drilling by 12.5% in the 3rd quarter. Gabelli Funds LLC now owns 45,000 shares of the offshore drilling services provider’s stock worth $653,000 after acquiring an additional 5,000 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Diamond Offshore Drilling in the 3rd quarter worth approximately $2,745,000. New York State Teachers Retirement System lifted its stake in shares of Diamond Offshore Drilling by 10.7% in the 3rd quarter. New York State Teachers Retirement System now owns 119,900 shares of the offshore drilling services provider’s stock worth $1,739,000 after acquiring an additional 11,600 shares during the period. Finally, Horseman Capital Management Ltd acquired a new stake in shares of Diamond Offshore Drilling in the 3rd quarter worth approximately $30,944,000.
Diamond Offshore Drilling Company Profile
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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