Diamond Offshore Drilling Price Target Lowered to $76.00 at JPMorgan Chase & Co. (DO)
Equities research analysts at JPMorgan Chase & Co. decreased their price objective on shares of Diamond Offshore Drilling (NYSE:DO) from $77.00 to $76.00 in a research note issued to investors on Tuesday, AnalystRatingsNetwork reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 22.40% from the stock’s previous close.
Diamond Offshore Drilling (NYSE:DO) traded down 0.86% during mid-day trading on Tuesday, hitting $62.09. The stock had a trading volume of 949,573 shares. Diamond Offshore Drilling has a 52-week low of $61.79 and a 52-week high of $76.85. The stock has a 50-day moving average of $63.9 and a 200-day moving average of $67.66. The company has a market cap of $8.633 billion and a price-to-earnings ratio of 12.53.
Diamond Offshore Drilling (NYSE:DO) last announced its earnings results 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 $4.79 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wunderlich reiterated a “buy” rating on shares of Diamond Offshore Drilling in a research note to investors on Tuesday, October 1st. They now have a $90.00 price target on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Diamond Offshore Drilling from $74.00 to $71.00 in a research note to investors on Tuesday, October 1st. They now have a “hold” rating on the stock. Finally, analysts at Guggenheim upgraded shares of Diamond Offshore Drilling 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. Two analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $74.04.
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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