Diamond Offshore Drilling, Inc. (NYSE:DO) – Research analysts at Jefferies Group increased their Q2 2017 earnings per share estimates for shares of Diamond Offshore Drilling in a research report issued to clients and investors on Tuesday. Jefferies Group analyst E. Royes now expects that the offshore drilling services provider will post earnings of $0.33 per share for the quarter, up from their previous forecast of $0.26. Jefferies Group has a “Hold” rating and a $12.00 price target on the stock. Jefferies Group also issued estimates for Diamond Offshore Drilling’s FY2017 earnings at $1.00 EPS, FY2018 earnings at $0.15 EPS and FY2019 earnings at ($0.20) EPS.

A number of other equities analysts have also commented on the company. BidaskClub upgraded Diamond Offshore Drilling from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Bank of America Corporation lowered Diamond Offshore Drilling from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $22.00 to $12.00 in a research note on Friday, June 30th. Seaport Global Securities lowered Diamond Offshore Drilling from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $12.00 to $9.00 in a research note on Wednesday, June 21st. Barclays PLC restated an “equal weight” rating and set a $15.00 price objective (down previously from $19.00) on shares of Diamond Offshore Drilling in a research note on Monday, May 1st. Finally, Credit Suisse Group set a $18.00 price objective on Diamond Offshore Drilling and gave the stock a “hold” rating in a research note on Thursday, April 20th. Ten equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $16.49.

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Shares of Diamond Offshore Drilling (DO) opened at 12.28 on Thursday. Diamond Offshore Drilling has a 12 month low of $10.06 and a 12 month high of $24.78. The company’s market capitalization is $1.69 billion. The firm has a 50-day moving average price of $11.16 and a 200-day moving average price of $14.77.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings results on Monday, May 1st. The offshore drilling services provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. Diamond Offshore Drilling had a positive return on equity of 4.76% and a negative net margin of 29.01%. The firm had revenue of $374.22 million for the quarter, compared to analysts’ expectations of $366.03 million. During the same period in the prior year, the business posted $0.64 earnings per share. The business’s revenue was down 20.5% compared to the same quarter last year.

In related news, Director Paul G. Gaffney bought 4,000 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were purchased at an average cost of $13.67 per share, with a total value of $54,680.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.03% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Diamond Offshore Drilling by 7,375.1% in the first quarter. BlackRock Inc. now owns 7,550,886 shares of the offshore drilling services provider’s stock valued at $126,177,000 after buying an additional 7,449,872 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Diamond Offshore Drilling by 194.3% in the first quarter. Prudential Financial Inc. now owns 2,117,443 shares of the offshore drilling services provider’s stock valued at $35,383,000 after buying an additional 1,398,057 shares during the last quarter. Norges Bank bought a new position in shares of Diamond Offshore Drilling during the fourth quarter valued at approximately $22,329,000. MARSHALL WACE ASIA Ltd bought a new position in shares of Diamond Offshore Drilling during the first quarter valued at approximately $21,432,000. Finally, Marshall Wace North America L.P. bought a new position in shares of Diamond Offshore Drilling during the first quarter valued at approximately $21,432,000.

About Diamond Offshore Drilling

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry. As of December 31, 2016, the Company had a fleet of 24 offshore drilling rigs. As of December 31, 2016, its fleet consisted of four drillships, 19 semisubmersible rigs and one jack-up rig. Its fleet enables it to offer a range of services, primarily in the floater market, including ultra-deepwater, deepwater and mid-water.

Earnings History and Estimates for Diamond Offshore Drilling (NYSE:DO)

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