Diamond Offshore Drilling Inc. Sets New 1-Year Low at $61.63 (DO)
Diamond Offshore Drilling (NYSE:DO) set a new 52-week low during mid-day trading on Wednesday, ARN reports. The stock traded as low as $61.63 and last traded at $62.39, with a volume of 549,258 shares. The stock had previously closed at $62.09.
A number of research firms have recently commented on DO. Analysts at JPMorgan Chase & Co. cut their price target on shares of Diamond Offshore Drilling from $77.00 to $76.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Separately, 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. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Diamond Offshore Drilling in a research note to investors on Tuesday, October 1st. They now have a $71.00 price target on the stock, down previously from $74.00. Two research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $74.04.
Diamond Offshore Drilling has a one year low of $61.79 and a one year 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 $8.630 billion and a price-to-earnings ratio of 12.42.
Diamond Offshore Drilling (NYSE:DO) last announced its earnings results 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 $4.79 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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