Analysts Offer Predictions for Diamond Offshore Drilling Inc’s Q4 2017 Earnings (DO)

Diamond Offshore Drilling Inc (NYSE:DO) – Investment analysts at Jefferies Group increased their Q4 2017 earnings per share estimates for Diamond Offshore Drilling in a report released on Thursday. Jefferies Group analyst E. Royes now expects that the offshore drilling services provider will earn $0.06 per share for the quarter, up from their previous estimate of $0.02. Jefferies Group currently has a “Underperform” rating and a $15.00 target price on the stock. Jefferies Group also issued estimates for Diamond Offshore Drilling’s FY2018 earnings at $0.10 EPS, FY2019 earnings at ($0.65) EPS, FY2020 earnings at ($1.35) EPS and FY2021 earnings at ($0.40) EPS.

A number of other brokerages have also commented on DO. ValuEngine upgraded Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Royal Bank of Canada set a $19.00 price objective on Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Thursday, December 21st. FBR & Co set a $13.00 price objective on Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Monday, October 30th. B. Riley reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Wednesday, November 1st. Finally, UBS Group lifted their price objective 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. Nine analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $14.53.

Diamond Offshore Drilling (NYSE:DO) opened at $19.68 on Monday. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.52. Diamond Offshore Drilling has a twelve month low of $10.06 and a twelve month high of $20.23. The stock has a market capitalization of $2,700.00, a PE ratio of 16.26 and a beta of 1.28.

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

In other Diamond Offshore Drilling news, Director Charles Fabrikant sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $18.55, for a total value of $27,825.00. Following the sale, the director now owns 1,000 shares in the company, valued at approximately $18,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.03% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Contrarius Investment Management Ltd raised its stake in shares of Diamond Offshore Drilling by 13.7% during the 3rd quarter. Contrarius Investment Management Ltd now owns 7,512,035 shares of the offshore drilling services provider’s stock worth $108,925,000 after purchasing an additional 905,595 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Diamond Offshore Drilling during the 3rd quarter worth approximately $2,745,000. Commonwealth Bank of Australia raised its stake in shares of Diamond Offshore Drilling by 6.0% during the 3rd quarter. Commonwealth Bank of Australia now owns 185,541 shares of the offshore drilling services provider’s stock worth $2,687,000 after purchasing an additional 10,500 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Diamond Offshore Drilling by 4.6% during the 2nd quarter. Principal Financial Group Inc. now owns 276,415 shares of the offshore drilling services provider’s stock worth $2,993,000 after purchasing an additional 12,282 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake 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 purchasing an additional 98,561 shares in the last quarter.

ILLEGAL ACTIVITY WARNING: This piece of content was originally published by Markets Daily and is the sole property of of Markets Daily. If you are reading this piece of content on another website, it was stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece of content can be accessed at https://www.themarketsdaily.com/2018/01/10/analysts-offer-predictions-for-diamond-offshore-drilling-incs-q4-2017-earnings-do.html.

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.

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

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.

Latest News

Leave a Reply