FY2017 Earnings Forecast for Diamond Offshore Drilling Inc (DO) Issued By Jefferies Group

Diamond Offshore Drilling Inc (NYSE:DO) – Stock analysts at Jefferies Group upped their FY2017 earnings per share (EPS) estimates for shares of Diamond Offshore Drilling in a research report issued to clients and investors on Thursday. Jefferies Group analyst E. Royes now forecasts that the offshore drilling services provider will post earnings per share of $0.92 for the year, up from their prior estimate of $0.87. Jefferies Group has a “Underperform” rating and a $15.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the stock. B. Riley reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Wednesday, November 1st. FBR & Co upgraded shares of Diamond Offshore Drilling from a “sell” rating to a “neutral” rating and set a $13.00 price objective for the company in a report on Tuesday, October 10th. Citigroup cut shares of Diamond Offshore Drilling from a “neutral” rating to a “sell” rating and set a $12.00 price objective for the company. in a report on Thursday, October 12th. Cowen set a $11.00 price objective on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a report on Wednesday, October 18th. Finally, Bank of America cut shares of Diamond Offshore Drilling from a “neutral” rating to an “underperform” rating and lifted their price objective for the company from $13.00 to $14.00 in a report on Monday, October 9th. Nine research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Diamond Offshore Drilling presently has a consensus rating of “Hold” and a consensus target price of $14.53.

Shares of Diamond Offshore Drilling (NYSE:DO) opened at $19.05 on Friday. Diamond Offshore Drilling has a 12-month low of $10.06 and a 12-month high of $20.23. The firm has a market cap of $2,610.00, a PE ratio of 15.74 and a beta of 1.28. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.58 and a current ratio of 3.58.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. The business had revenue of $366.02 million during the quarter, compared to analysts’ expectations of $365.38 million. During the same period last year, the business earned $0.10 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis.

In other news, Director Charles Fabrikant sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $18.55, for a total transaction of $27,825.00. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at approximately $18,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.03% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of DO. Schwab Charles Investment Management Inc. lifted its position in shares of Diamond Offshore Drilling by 28.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 448,736 shares of the offshore drilling services provider’s stock worth $4,860,000 after buying an additional 98,561 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Diamond Offshore Drilling by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 27,200 shares of the offshore drilling services provider’s stock worth $295,000 after buying an additional 400 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Diamond Offshore Drilling by 20.7% during the 2nd quarter. First Trust Advisors LP now owns 239,230 shares of the offshore drilling services provider’s stock worth $2,591,000 after buying an additional 40,955 shares during the last quarter. Rhumbline Advisers raised its position in Diamond Offshore Drilling by 14.9% in the 2nd quarter. Rhumbline Advisers now owns 134,359 shares of the offshore drilling services provider’s stock valued at $1,455,000 after purchasing an additional 17,419 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Diamond Offshore Drilling by 0.3% in the 2nd quarter. Legal & General Group Plc now owns 200,738 shares of the offshore drilling services provider’s stock valued at $2,175,000 after purchasing an additional 671 shares during the last quarter.

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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.

Earnings History and Estimates for Diamond Offshore Drilling (NYSE:DO)

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