Diamond Offshore Drilling Receives Consensus Rating of “Hold” from Brokerages (NYSE:DO)
Shares of Diamond Offshore Drilling (NYSE:DO) have earned a consensus recommendation of “Hold” from the twenty-three brokerages that are presently covering the stock, Analyst Ratings Network.com reports. Six equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $50.05.
DO has been the subject of a number of recent research reports. Analysts at Pareto upgraded shares of Diamond Offshore Drilling from a “sell” rating to a “hold” rating in a research note on Thursday. They now have a $44.00 price target on the stock. Separately, analysts at Deutsche Bank downgraded shares of Diamond Offshore Drilling from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Wednesday. They now have a $46.00 price target on the stock.
Diamond Offshore Drilling (NYSE:DO) opened at 44.00 on Monday. Diamond Offshore Drilling has a one year low of $43.69 and a one year high of $66.34. The stock has a 50-day moving average of $47.10 and a 200-day moving average of $48.30. The company has a market cap of $6.034 billion and a P/E ratio of 14.42.
Diamond Offshore Drilling (NYSE:DO) last released its earnings data on Thursday, July 24th. The company reported $0.58 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.58. The company had revenue of $692.24 million for the quarter, compared to the consensus estimate of $690.33 million. During the same quarter last year, the company posted $1.33 earnings per share. Diamond Offshore Drilling’s revenue was down 8.7% compared to the same quarter last year. On average, analysts predict that Diamond Offshore Drilling will post $3.16 earnings per share for the current fiscal year.
The company also recently announced a special dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be paid a dividend of $0.75 per share. The ex-dividend date is Monday, August 4th.
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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