Diamond Offshore Drilling Receives Consensus Recommendation of “Hold” from Analysts (NYSE:DO)
Shares of Diamond Offshore Drilling (NYSE:DO) have earned a consensus rating of “Hold” from the twenty-seven ratings firms that are currently covering the company, AmericanBankingNews.com reports. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $55.07.
Shares of Diamond Offshore Drilling (NYSE:DO) opened at 51.29 on Wednesday. Diamond Offshore Drilling has a 52 week low of $43.69 and a 52 week high of $73.00. The stock’s 50-day moving average is $50.49 and its 200-day moving average is $51.9. The company has a market cap of $7.034 billion and a price-to-earnings ratio of 13.75.
Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.29. The company had revenue of $709.00 million for the quarter, compared to the consensus estimate of $686.51 million. During the same quarter in the previous year, the company posted $1.27 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts predict that Diamond Offshore Drilling will post $3.66 earnings per share for the current fiscal year.
The company also recently announced a special dividend, which is scheduled for Monday, June 2nd. Investors of record on Wednesday, May 7th will be paid a dividend of $0.75 per share. The ex-dividend date is Monday, May 5th.
In other Diamond Offshore Drilling news, VP William Long sold 1,252 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $49.68, for a total value of $62,199.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
DO has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Thursday, May 22nd. They now have a $53.00 price target on the stock. Separately, analysts at Susquehanna reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Monday, May 19th. They now have a $54.00 price target on the stock, down previously from $55.00. Finally, analysts at Global Hunter Securities upgraded shares of Diamond Offshore Drilling from a “sell” rating to a “neutral” rating in a research note on Monday, May 19th. They now have a $48.00 price target on the stock, up previously from $37.00.
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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