Diamond Offshore Drilling’s “Market Perform” Rating Reiterated at FBR Capital Markets (DO)
Diamond Offshore Drilling (NYSE:DO)‘s stock had its “market perform” rating restated by stock analysts at FBR Capital Markets in a report issued on Tuesday. They currently have a $49.00 target price on the stock, down from their previous target price of $53.00. FBR Capital Markets’ price target would suggest a potential upside of 13.37% from the stock’s previous close.
DO has been the subject of a number of other 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, August 21st. 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, August 21st. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Wednesday, August 20th. They now have a $46.00 price target on the stock. Six analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $49.85.
Diamond Offshore Drilling (NYSE:DO) traded up 2.20% on Tuesday, hitting $44.17. 540,621 shares of the company’s stock traded hands. Diamond Offshore Drilling has a one year low of $43.04 and a one year high of $65.84. The stock has a 50-day moving average of $46.82 and a 200-day moving average of $48.25. The company has a market cap of $6.058 billion and a P/E ratio of 14.15.
Diamond Offshore Drilling (NYSE:DO) last announced its earnings results on Thursday, July 24th. The company reported $0.58 EPS for the quarter, meeting the Thomson Reuters 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 in the prior year, the company posted $1.33 earnings per share. The company’s quarterly revenue was down 8.7% on a year-over-year basis. Analysts expect that Diamond Offshore Drilling will post $3.09 EPS for the current fiscal year.
The company also recently declared a special dividend, which is scheduled for Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend 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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