-$0.61 EPS Expected for Diamond Offshore Drilling Inc (NYSE:DO) This Quarter

Analysts predict that Diamond Offshore Drilling Inc (NYSE:DO) will report earnings of ($0.61) per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Diamond Offshore Drilling’s earnings. The highest EPS estimate is ($0.41) and the lowest is ($0.72). Diamond Offshore Drilling reported earnings per share of ($0.26) in the same quarter last year, which would suggest a negative year-over-year growth rate of 134.6%. The company is expected to issue its next earnings report on Monday, November 4th.

On average, analysts expect that Diamond Offshore Drilling will report full-year earnings of ($2.69) per share for the current financial year, with EPS estimates ranging from ($2.90) to ($2.43). For the next financial year, analysts anticipate that the firm will report earnings of ($1.81) per share, with EPS estimates ranging from ($2.00) to ($1.61). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Diamond Offshore Drilling.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, August 5th. The offshore drilling services provider reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Diamond Offshore Drilling had a negative return on equity of 8.55% and a negative net margin of 32.78%. The company had revenue of $216.70 million for the quarter, compared to the consensus estimate of $228.46 million. During the same quarter in the prior year, the company earned ($0.33) EPS. The company’s revenue for the quarter was down 7.2% on a year-over-year basis.

A number of equities research analysts have recently issued reports on the company. UBS Group set a $11.00 price objective on Diamond Offshore Drilling and gave the stock a “buy” rating in a research note on Friday, August 9th. Tudor Pickering upgraded Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research note on Thursday, June 13th. Susquehanna Bancshares set a $9.00 price target on Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Friday, July 19th. HSBC set a $11.00 price target on Diamond Offshore Drilling and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Citigroup set a $5.00 price target on Diamond Offshore Drilling and gave the company a “sell” rating in a research note on Friday, June 14th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $12.06.

Shares of Diamond Offshore Drilling stock traded down $0.27 on Thursday, reaching $5.36. 4,029,034 shares of the company were exchanged, compared to its average volume of 2,848,203. Diamond Offshore Drilling has a one year low of $5.25 and a one year high of $20.85. The company has a market capitalization of $775.20 million, a price-to-earnings ratio of -4.58 and a beta of 1.69. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $7.88 and a 200 day moving average of $9.36.

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Inc. grew its stake in shares of Diamond Offshore Drilling by 108.3% in the fourth quarter. Advisor Group Inc. now owns 3,577 shares of the offshore drilling services provider’s stock worth $35,000 after acquiring an additional 1,860 shares during the last quarter. Geode Capital Management LLC boosted its stake in Diamond Offshore Drilling by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 682,114 shares of the offshore drilling services provider’s stock worth $6,439,000 after buying an additional 27,144 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in Diamond Offshore Drilling during the fourth quarter worth $143,000. Public Employees Retirement System of Ohio boosted its stake in Diamond Offshore Drilling by 135.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 38,099 shares of the offshore drilling services provider’s stock worth $360,000 after buying an additional 21,891 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Diamond Offshore Drilling by 32.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,004,510 shares of the offshore drilling services provider’s stock worth $37,804,000 after buying an additional 992,277 shares in the last quarter.

Diamond Offshore Drilling Company Profile

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drillships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.

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

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