Other equities analysts have also recently issued research reports about the company. Nordea Equity Research raised Diamond Offshore Drilling from a sell rating to a hold rating in a research note on Thursday, October 24th. Citigroup boosted their target price on Diamond Offshore Drilling from $4.00 to $5.00 and gave the stock a sell rating in a report on Monday, September 23rd. Morgan Stanley reduced their target price on Diamond Offshore Drilling from $10.00 to $7.00 and set an underweight rating for the company in a report on Monday, October 7th. HSBC lowered Diamond Offshore Drilling from a buy rating to a hold rating and set a $5.70 price target for the company. in a report on Friday, December 6th. Finally, Royal Bank of Canada lowered Diamond Offshore Drilling from an outperform rating to a sector perform rating and cut their price target for the stock from $11.00 to $10.00 in a report on Wednesday, September 25th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $7.43.
DO stock opened at $5.11 on Tuesday. Diamond Offshore Drilling has a twelve month low of $4.77 and a twelve month high of $12.64. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $703.60 million, a P/E ratio of -1.94 and a beta of 1.89. The firm has a 50 day simple moving average of $6.55 and a 200-day simple moving average of $6.51.
Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings data on Monday, October 28th. The offshore drilling services provider reported ($0.67) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.01. The firm had revenue of $254.00 million during the quarter, compared to the consensus estimate of $244.43 million. Diamond Offshore Drilling had a negative net margin of 38.60% and a negative return on equity of 10.44%. The firm’s revenue was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.26) earnings per share. On average, research analysts predict that Diamond Offshore Drilling will post -2.87 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in DO. Nisa Investment Advisors LLC purchased a new position in Diamond Offshore Drilling during the 4th quarter valued at about $43,000. Huntington National Bank lifted its position in Diamond Offshore Drilling by 1,858.2% in the 4th quarter. Huntington National Bank now owns 10,770 shares of the offshore drilling services provider’s stock valued at $77,000 after acquiring an additional 10,220 shares in the last quarter. Hellman Jordan Management Co. Inc. MA bought a new position in Diamond Offshore Drilling in the 2nd quarter valued at approximately $98,000. Public Employees Retirement System of Ohio raised its stake in Diamond Offshore Drilling by 16.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,064 shares of the offshore drilling services provider’s stock valued at $112,000 after buying an additional 2,849 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Diamond Offshore Drilling during the 3rd quarter valued at $122,000.
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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