Diamond Offshore Drilling Price Target Cut to $64.00 by Analysts at Sanford C. Bernstein (DO)
Sanford C. Bernstein cut their price target on shares of Diamond Offshore Drilling (NYSE:DO) from $74.00 to $64.00 in a research note issued on Friday, Analyst Ratings.Net reports. The firm currently has a “market perform” rating on the stock. Sanford C. Bernstein’s price target indicates a potential downside of 1.36% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Diamond Offshore Drilling (NYSE:DO) from $75.00 to $78.00 in a research note to investors on Wednesday, September 4th. They now have an “overweight” rating on the stock. Separately, analysts at Wunderlich initiated coverage on shares of Diamond Offshore Drilling (NYSE:DO) in a research note to investors on Wednesday, September 4th. They set a “buy” rating and a $90.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Diamond Offshore Drilling (NYSE:DO) in a research note to investors on Monday, August 26th. They now have a $69.00 price target on the stock.
Two equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and six have assigned a buy rating to the company. Diamond Offshore Drilling currently has a consensus rating of “Hold” and a consensus price target of $74.36.
Diamond Offshore Drilling (NYSE:DO) traded down 0.72% on Friday, hitting $64.41. 732,112 shares of the company’s stock traded hands. Diamond Offshore Drilling has a 52 week low of $63.05 and a 52 week high of $76.85. The stock’s 50-day moving average is $66.24 and its 200-day moving average is $68.39. The company has a market cap of $8.955 billion and a P/E ratio of 12.98.
Diamond Offshore Drilling (NYSE:DO) last released its earnings data on Thursday, July 25th. The company reported $1.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.24 by $0.09. The company had revenue of $758.00 billion for the quarter, compared to the consensus estimate of $767.42 billion. During the same quarter last year, the company posted $1.09 earnings per share. Diamond Offshore Drilling’s revenue was up 2.7% compared to the same quarter last year. Analysts expect that Diamond Offshore Drilling will post $4.93 EPS for the current fiscal year.
Diamond Offshore Drilling, Inc is a global offshore oil and gas drilling contractor. The Company has a fleet of 44 offshore drilling rigs, consisting of 32 semisubmersibles, seven jack-ups and five dynamically positioned drillships, four of which are under construction.
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