$346.62 Million in Sales Expected for Diamond Offshore Drilling Inc (DO) This Quarter

Brokerages expect Diamond Offshore Drilling Inc (NYSE:DO) to report sales of $346.62 million for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Diamond Offshore Drilling’s earnings. The lowest sales estimate is $339.70 million and the highest is $368.00 million. Diamond Offshore Drilling posted sales of $391.87 million during the same quarter last year, which would indicate a negative year over year growth rate of 11.5%. The business is scheduled to issue its next earnings report on Monday, February 12th.

According to Zacks, analysts expect that Diamond Offshore Drilling will report full-year sales of $346.62 million for the current financial year, with estimates ranging from $1.42 billion to $1.50 billion. For the next year, analysts anticipate that the firm will report sales of $1.29 billion per share, with estimates ranging from $1.21 billion to $1.37 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Diamond Offshore Drilling.

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

Several research analysts recently issued reports on the company. Jefferies Group reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Tuesday, October 31st. Cowen set a $18.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Thursday, January 11th. Deutsche Bank assumed coverage on Diamond Offshore Drilling in a research report on Tuesday, October 10th. They set a “hold” rating and a $15.00 target price for the company. began coverage on Diamond Offshore Drilling in a research report on Thursday, October 19th. They set a “hold” rating and a $15.80 target price for the company. Finally, Barclays reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a report on Sunday, November 5th. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Diamond Offshore Drilling presently has an average rating of “Hold” and an average price target of $15.01.

Diamond Offshore Drilling (NYSE:DO) opened at $19.63 on Friday. The stock has a market capitalization of $2,644.38, a price-to-earnings ratio of 11.20 and a beta of 1.29. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.52. Diamond Offshore Drilling has a 12-month low of $10.06 and a 12-month high of $20.41.

In other news, Director Charles Fabrikant sold 1,500 shares of the firm’s stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $18.55, for a total value of $27,825.00. Following the completion of the sale, the director now directly owns 1,000 shares in the company, valued at approximately $18,550. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.03% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Contrarius Investment Management Ltd grew its stake in shares of Diamond Offshore Drilling by 13.7% in the 3rd quarter. Contrarius Investment Management Ltd now owns 7,512,035 shares of the offshore drilling services provider’s stock valued at $108,925,000 after buying an additional 905,595 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Diamond Offshore Drilling in the 3rd quarter valued at about $2,745,000. Commonwealth Bank of Australia grew its stake in shares of Diamond Offshore Drilling by 6.0% in the 3rd quarter. Commonwealth Bank of Australia now owns 185,541 shares of the offshore drilling services provider’s stock valued at $2,687,000 after buying an additional 10,500 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Diamond Offshore Drilling by 959.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 625,300 shares of the offshore drilling services provider’s stock valued at $9,067,000 after buying an additional 566,300 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Diamond Offshore Drilling by 4.6% in the 2nd quarter. Principal Financial Group Inc. now owns 276,415 shares of the offshore drilling services provider’s stock valued at $2,993,000 after buying an additional 12,282 shares during the period.

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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.

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

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