Wunderlich Reiterates “Buy” Rating for Diamond Offshore Drilling (DO)
Diamond Offshore Drilling (NYSE:DO)‘s stock had its “buy” rating restated by research analysts at Wunderlich in a report released on Tuesday, ARN reports. They currently have a $90.00 price target on the stock. Wunderlich’s target price suggests a potential upside of 44.21% from the stock’s previous close.
Diamond Offshore Drilling (NYSE:DO) traded up 0.14% on Tuesday, hitting $62.41. 952,578 shares of the company’s stock traded hands. Diamond Offshore Drilling has a 1-year low of $61.82 and a 1-year high of $76.85. The stock has a 50-day moving average of $64.6 and a 200-day moving average of $67.93. The company has a market cap of $8.677 billion and a P/E ratio of 12.46.
Diamond Offshore Drilling (NYSE:DO) last released its earnings data on Thursday, July 25th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.09 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts expect that Diamond Offshore Drilling will post $4.80 EPS for the current fiscal year.
A number of other firms have also recently commented on DO. Analysts at Jefferies Group cut their price target on shares of Diamond Offshore Drilling (NYSE:DO) from $74.00 to $71.00 in a research note to investors on Tuesday. They now have a “hold” rating on the stock. Separately, analysts at Guggenheim upgraded shares of Diamond Offshore Drilling (NYSE:DO) from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, September 25th. They now have a $80.00 price target on the stock, up previously from $73.00. Finally, 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, September 22nd. They now have a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $74.11.
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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