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Diamond Offshore Drilling (NYSE: DO) was the recipient of a ratings changes during the seven days:

  • Diamond Offshore Drilling had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $46.00 price target on the stock. Zacks‘ analyst wrote, “We are maintaining our Neutral recommendation on Diamond Offshore Drilling Inc. The company’s second-quarter earnings beat the Zacks Consensus Estimate. We appreciate the company’s financial discipline, which is one of the best in the industry. Diamond Offshore Drilling is also looking to increase its footprint in emerging markets (like Australia, Brazil and West Africa) to reap the benefits from recently discovered deepwater fields. Furthermore, improving activity in the North Sea positions the company well. However, we remain on the sidelines at this stage due to the volatile oil and gas price scenario, geopolitical risks related to international operations, the uneven deepwater markets and expectations of a gradual decline in deepwater rates.”
  • Diamond Offshore Drilling was downgraded by analysts at Deutsche Bank from a “hold” rating to a “sell” rating.
  • Diamond Offshore Drilling was upgraded by analysts at Pareto from a “sell” rating to a “hold” rating. They now have a $44.00 price target on the stock.
  • Diamond Offshore Drilling had its “market perform” rating reaffirmed by analysts at FBR Capital Markets. They now have a $49.00 price target on the stock, down previously from $53.00.

Shares of Diamond Offshore Drilling Inc (NYSE:DO) opened at 44.40 on Wednesday. Diamond Offshore Drilling Inc has a one year low of $43.04 and a one year high of $65.84. The stock’s 50-day moving average is $46.7 and its 200-day moving average is $48.22. The company has a market cap of $6.089 billion and a price-to-earnings 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 Inc will post $3.09 EPS 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 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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