Equities research analysts expect Diamond Offshore Drilling Inc (NYSE:DO) to post earnings of $0.24 per share for the current quarter, according to Zacks. Seven analysts have made estimates for Diamond Offshore Drilling’s earnings, with estimates ranging from $0.16 to $0.43. Diamond Offshore Drilling posted earnings of $0.16 per share in the same quarter last year, which would indicate a positive year over year growth rate of 50%. The business is expected to report its next earnings report on Monday, August 7th.
According to Zacks, analysts expect that Diamond Offshore Drilling will report full year earnings of $0.80 per share for the current fiscal year, with EPS estimates ranging from $0.38 to $1.31. For the next year, analysts expect that the firm will report earnings of $0.12 per share, with EPS estimates ranging from ($0.33) to $0.38. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Diamond Offshore Drilling.
Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, May 1st. The offshore drilling services provider reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.05. The business earned $374.22 million during the quarter, compared to the consensus estimate of $366.03 million. Diamond Offshore Drilling had a negative net margin of 23.28% and a positive return on equity of 6.33%. Diamond Offshore Drilling’s quarterly revenue was down 20.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS.
DO has been the topic of a number of recent analyst reports. Goldman Sachs Group Inc lowered their target price on shares of Diamond Offshore Drilling from $15.00 to $14.50 and set a “sell” rating on the stock in a report on Tuesday, February 7th. Jefferies Group LLC lowered their target price on shares of Diamond Offshore Drilling from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday. Royal Bank of Canada restated a “sell” rating and set a $18.00 target price (down from $22.00) on shares of Diamond Offshore Drilling in a report on Wednesday, February 1st. Barclays PLC restated an “equal weight” rating and set a $15.00 target price (down from $19.00) on shares of Diamond Offshore Drilling in a report on Monday, May 1st. Finally, Tudor Pickering initiated coverage on shares of Diamond Offshore Drilling in a report on Thursday, March 23rd. They set a “hold” rating on the stock. Eight research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Diamond Offshore Drilling currently has a consensus rating of “Hold” and a consensus target price of $18.29.
Diamond Offshore Drilling (NYSE:DO) traded up 12.13% during mid-day trading on Wednesday, hitting $14.97. 6,397,436 shares of the company traded hands. The stock’s market capitalization is $2.05 billion. Diamond Offshore Drilling has a one year low of $13.06 and a one year high of $26.72. The company’s 50-day moving average is $15.34 and its 200-day moving average is $16.93.
Large investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale purchased a new stake in Diamond Offshore Drilling during the third quarter valued at $129,000. Commerzbank Aktiengesellschaft FI purchased a new stake in Diamond Offshore Drilling during the first quarter valued at $169,000. Texas Yale Capital Corp. purchased a new stake in Diamond Offshore Drilling during the fourth quarter valued at $177,000. Suntrust Banks Inc. boosted its stake in Diamond Offshore Drilling by 7.0% in the first quarter. Suntrust Banks Inc. now owns 12,091 shares of the offshore drilling services provider’s stock valued at $201,000 after buying an additional 787 shares in the last quarter. Finally, Wellington Shields Capital Management LLC boosted its stake in Diamond Offshore Drilling by 1.7% in the third quarter. Wellington Shields Capital Management LLC now owns 12,080 shares of the offshore drilling services provider’s stock valued at $213,000 after buying an additional 200 shares in the last quarter.
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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