Wunderlich Reiterates “Buy” Rating for Diamond Offshore Drilling (DO)
Diamond Offshore Drilling (NYSE:DO)‘s stock had its “buy” rating restated by stock analysts at Wunderlich in a report issued on Monday, AnalystRatings.Net reports. They currently have a $90.00 target price on the stock. Wunderlich’s price target would suggest a potential upside of 43.75% from the stock’s previous close.
Shares of Diamond Offshore Drilling (NYSE:DO) opened at 62.61 on Monday. Diamond Offshore Drilling has a one year low of $62.54 and a one year high of $76.85. The stock’s 50-day moving average is $65.6 and its 200-day moving average is $68.18. The company has a market cap of $8.705 billion and a P/E ratio of 12.52.
Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.33 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $1.09 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that Diamond Offshore Drilling will post $4.87 earnings per share for the current fiscal year.
A number of other firms have also recently commented on DO. Analysts at Susquehanna cut their price target on shares of Diamond Offshore Drilling (NYSE:DO) from $73.00 to $69.00 in a research note to investors on Sunday. They now have a “neutral” rating on the stock. Separately, analysts at Cowen and Company cut their price target on shares of Diamond Offshore Drilling (NYSE:DO) from $69.00 to $66.00 in a research note to investors on Sunday. They now have a “market perform” rating on the stock. Finally, analysts at RBC Capital cut their price target on shares of Diamond Offshore Drilling (NYSE:DO) from $75.00 to $68.00 in a research note to investors on Friday. They now have a “sector perform” rating on the stock.
Two research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $73.96.
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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