Susquehanna Reiterates “Neutral” Rating for Diamond Offshore Drilling (DO)
Diamond Offshore Drilling (NYSE:DO)‘s stock had its “neutral” rating reiterated by Susquehanna in a research note issued on Friday, Stock Ratings Network reports. They currently have a $54.00 price objective on the stock, down from their previous price objective of $57.00. Susquehanna’s target price indicates a potential upside of 17.21% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital cut their price target on shares of Diamond Offshore Drilling from $62.00 to $50.00 in a research note to investors on Friday. Separately, analysts at Guggenheim cut their price target on shares of Diamond Offshore Drilling from $80.00 to $65.00 in a research note to investors on Friday. Finally, analysts at Jefferies Group cut their price target on shares of Diamond Offshore Drilling from $62.00 to $53.00 in a research note to investors on Friday. Eight analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $62.54.
Diamond Offshore Drilling (NYSE:DO) traded down 2.62% on Friday, hitting $46.07. 4,563,279 shares of the company’s stock traded hands. Diamond Offshore Drilling has a 52-week low of $45.24 and a 52-week high of $76.08. The stock has a 50-day moving average of $53.21 and a 200-day moving average of $60.75. The company has a market cap of $6.405 billion and a price-to-earnings ratio of 10.75.
Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.13. The company had revenue of $707.97 million for the quarter, compared to the consensus estimate of $705.35 million. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts predict that Diamond Offshore Drilling will post $4.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 3rd. Investors 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 1.09%. The ex-dividend date is Friday, February 14th.
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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