Diamond Offshore Drilling (DO) Announces Quarterly Results
Diamond Offshore Drilling (NYSE:DO) announced its earnings results on Thursday. The company reported $0.67 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.80 by $0.13, American Banking and Market News reports. The company had revenue of $707.97 million for the quarter, compared to the consensus estimate of $705.35 million.
Shares of Diamond Offshore Drilling (NYSE:DO) opened at 46.51 on Thursday. Diamond Offshore Drilling has a 52-week low of $46.42 and a 52-week high of $76.08. The stock has a 50-day moving average of $53.76 and a 200-day moving average of $61.04. The company has a market cap of $6.467 billion and a P/E ratio of 10.92.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 3rd. Stockholders of record on Wednesday, February 19th will be paid a dividend of 0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.08%.
Several analysts have recently commented on the stock. Analysts at Wunderlich downgraded shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. They now have a $50.00 price target on the stock, down previously from $77.00. On the ratings front, analysts at FBR Capital Markets cut their price target on shares of Diamond Offshore Drilling from $53.00 to $47.00 in a research note to investors on Wednesday, January 29th. They now have an “underperform” rating on the stock. Finally, analysts at Simmons downgraded shares of Diamond Offshore Drilling from a “neutral” rating to an “underweight” rating in a research note to investors on Wednesday, January 29th. Seven investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $69.30.
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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