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.
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.
TRADEMARK VIOLATION WARNING: “$346.62 Million in Sales Expected for Diamond Offshore Drilling Inc (DO) This Quarter” was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this report can be accessed at https://www.com-unik.info/2018/01/20/346-62-million-in-sales-expected-for-diamond-offshore-drilling-inc-do-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Diamond Offshore Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamond Offshore Drilling and related companies with MarketBeat.com's FREE daily email newsletter.