Shares of Diamond Offshore Drilling, Inc. (NYSE:DO) have earned a consensus rating of “Hold” from the twenty-six research firms that are presently covering the firm, MarketBeat reports. Eight analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $14.41.
A number of equities research analysts recently commented on the company. B. Riley restated a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Wednesday, November 1st. Barclays PLC restated a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Sunday, November 5th. UBS AG increased their price target on Diamond Offshore Drilling from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Jefferies Group LLC reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Tuesday, October 31st. Finally, FBR & Co set a $13.00 price objective on Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Monday, October 30th.
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Diamond Offshore Drilling (NYSE DO) traded down $0.76 during midday trading on Thursday, reaching $16.62. The company had a trading volume of 1,677,900 shares, compared to its average volume of 3,007,031. The company has a market cap of $2,385.02, a price-to-earnings ratio of 10.10 and a beta of 1.31. Diamond Offshore Drilling has a 1-year low of $10.06 and a 1-year high of $22.65. 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 released its quarterly earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05. The business had revenue of $366.02 million for 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS. research analysts anticipate that Diamond Offshore Drilling will post 0.9 earnings per share for the current year.
Institutional investors have recently modified their holdings of the stock. Hikari Power Ltd raised its stake in Diamond Offshore Drilling by 416.6% during the 2nd quarter. Hikari Power Ltd now owns 567,700 shares of the offshore drilling services provider’s stock worth $6,148,000 after buying an additional 457,800 shares during the period. BNP Paribas Arbitrage SA raised its stake in Diamond Offshore Drilling by 522.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 119,776 shares of the offshore drilling services provider’s stock worth $1,297,000 after buying an additional 100,521 shares during the period. First Trust Advisors LP raised its stake in 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 period. BlackRock Inc. raised its stake in Diamond Offshore Drilling by 7,375.1% during the 1st quarter. BlackRock Inc. now owns 7,550,886 shares of the offshore drilling services provider’s stock worth $126,177,000 after buying an additional 7,449,872 shares during the period. Finally, Wayne Hummer Investments L.L.C. acquired a new stake in Diamond Offshore Drilling during the 2nd quarter worth $145,000.
About Diamond Offshore Drilling
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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