Diamond Offshore Drilling Given Average Recommendation of “Hold” by Brokerages (NYSE:DO)
Diamond Offshore Drilling (NYSE:DO) has been given a consensus recommendation of “Hold” by the thirty-one ratings firms that are presently covering the company, StockRatingsNetwork reports. Seven analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $61.79.
In other Diamond Offshore Drilling news, Director Edward Grebow acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $46.52 per share, for a total transaction of $139,560.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $139,560. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on DO. Analysts at Cowen and Company cut their price target on shares of Diamond Offshore Drilling from $66.00 to $50.00 in a research note on Tuesday, February 11th. They now have a “market perform” rating on the stock. Separately, analysts at FBR Capital Markets upgraded shares of Diamond Offshore Drilling from an “underperform” rating to a “market perform” rating in a research note on Monday, February 10th. They now have a $45.00 price target on the stock, down previously from $47.00. They noted that the move was a valuation call. Finally, analysts at BMO Capital Markets cut their price target on shares of Diamond Offshore Drilling from $64.00 to $39.00 in a research note on Friday, February 7th.
Diamond Offshore Drilling (NYSE:DO) last released its earnings data 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.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 3rd. Shareholders 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 1.03%. 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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