Wall Street analysts expect Diamond Offshore Drilling Inc (NYSE:DO) to announce ($0.68) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Diamond Offshore Drilling’s earnings, with estimates ranging from ($0.80) to ($0.59). Diamond Offshore Drilling reported earnings per share of ($0.42) in the same quarter last year, which would suggest a negative year-over-year growth rate of 61.9%. The company is scheduled to announce its next quarterly earnings report on Monday, February 10th.
On average, analysts expect that Diamond Offshore Drilling will report full year earnings of ($2.87) per share for the current year, with EPS estimates ranging from ($3.00) to ($2.75). For the next fiscal year, analysts anticipate that the firm will report earnings of ($2.27) per share, with EPS estimates ranging from ($2.69) to ($1.96). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Diamond Offshore Drilling.
Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings results on Monday, October 28th. The offshore drilling services provider reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.01. The firm had revenue of $254.00 million for the quarter, compared to analysts’ expectations 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 company’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.26) EPS.
DO has been the topic of several recent research reports. Morgan Stanley lowered their price target on shares of Diamond Offshore Drilling from $10.00 to $7.00 and set an “underweight” rating on the stock in a research report on Monday, October 7th. Citigroup upped their target price on shares of Diamond Offshore Drilling from $4.00 to $5.00 and gave the company a “sell” rating in a research report on Monday, September 23rd. Nordea Equity Research raised shares of Diamond Offshore Drilling from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. ValuEngine raised shares of Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 30th. Finally, Zacks Investment Research cut shares of Diamond Offshore Drilling from a “hold” rating to a “sell” rating and set a $7.00 target price on the stock. in a research report on Monday, November 4th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Diamond Offshore Drilling presently has a consensus rating of “Hold” and an average target price of $7.43.
Shares of DO stock traded up $0.28 on Monday, hitting $7.63. 3,729,967 shares of the stock traded hands, compared to its average volume of 2,797,630. The firm’s 50-day moving average price is $6.13 and its two-hundred day moving average price is $6.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market capitalization of $1.01 billion, a PE ratio of -6.52 and a beta of 1.89. Diamond Offshore Drilling has a twelve month low of $4.77 and a twelve month high of $12.64.
Hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP increased its stake in Diamond Offshore Drilling by 61.5% during the first quarter. First Trust Advisors LP now owns 134,755 shares of the offshore drilling services provider’s stock worth $1,414,000 after purchasing an additional 51,333 shares during the period. KBC Group NV purchased a new stake in Diamond Offshore Drilling during the second quarter worth about $675,000. Swiss National Bank increased its stake in Diamond Offshore Drilling by 2.2% during the second quarter. Swiss National Bank now owns 127,953 shares of the offshore drilling services provider’s stock worth $1,135,000 after purchasing an additional 2,700 shares during the period. Schroder Investment Management Group increased its stake in Diamond Offshore Drilling by 1.2% during the second quarter. Schroder Investment Management Group now owns 1,634,092 shares of the offshore drilling services provider’s stock worth $14,494,000 after purchasing an additional 19,469 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Diamond Offshore Drilling by 7.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,320,179 shares of the offshore drilling services provider’s stock worth $11,710,000 after purchasing an additional 86,851 shares during the period.
About Diamond Offshore Drilling
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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