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Diamond Offshore Drilling (NYSE:DO) shares hit a new 52-week low during mid-day trading on Tuesday , Stock Ratings Network reports. The stock traded as low as $42.99 and last traded at $43.11, with a volume of 559,578 shares. The stock had previously closed at $43.94.

DO has been the subject of a number of recent research reports. Analysts at FBR Capital Markets reiterated a “market perform” rating on shares of Diamond Offshore Drilling in a research note on Tuesday, August 26th. They now have a $49.00 price target on the stock, down previously from $53.00. Separately, analysts at Pareto Securities 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. Finally, 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. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $49.85.

The stock’s 50-day moving average is $46.15 and its 200-day moving average is $48.1. The company has a market cap of $5.892 billion and a P/E ratio of 14.38.

Diamond Offshore Drilling (NYSE:DO) last announced its earnings results 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 $3.13 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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