Diamond Offshore Drilling, Inc. (NYSE:DO) – Investment analysts at FBR & Co reduced their Q3 2017 EPS estimates for shares of Diamond Offshore Drilling in a research report issued to clients and investors on Tuesday. FBR & Co analyst T. Curran now anticipates that the offshore drilling services provider will post earnings of $0.10 per share for the quarter, down from their prior forecast of $0.14. FBR & Co currently has a “Neutral” rating and a $13.00 target price on the stock. FBR & Co also issued estimates for Diamond Offshore Drilling’s FY2017 earnings at $0.73 EPS and FY2019 earnings at $0.08 EPS.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, July 31st. The offshore drilling services provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.21. Diamond Offshore Drilling had a return on equity of 5.77% and a net margin of 11.19%. The company had revenue of $399.30 million during the quarter, compared to the consensus estimate of $381.50 million. During the same quarter last year, the company earned $0.16 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis.

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A number of other equities analysts have also recently issued reports on DO. BidaskClub cut shares of Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Zephirin Group reissued a “sell” rating on shares of Diamond Offshore Drilling in a research report on Wednesday, August 2nd. Seaport Global Securities reissued a “sell” rating on shares of Diamond Offshore Drilling in a research report on Monday, July 31st. Deutsche Bank AG started coverage on shares of Diamond Offshore Drilling in a research report on Tuesday. They set a “hold” rating and a $15.00 price objective on the stock. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $12.50 price objective on shares of Diamond Offshore Drilling in a research report on Thursday, August 3rd. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $14.54.

Shares of Diamond Offshore Drilling (DO) opened at 15.14 on Wednesday. Diamond Offshore Drilling has a 12 month low of $10.06 and a 12 month high of $22.65. The company has a market cap of $2.08 billion, a P/E ratio of 12.31 and a beta of 1.19. The firm has a 50 day moving average price of $13.19 and a 200-day moving average price of $12.90.

Several institutional investors have recently bought and sold shares of the business. Advantus Capital Management Inc lifted its position in shares of Diamond Offshore Drilling by 3.0% during the 1st quarter. Advantus Capital Management Inc now owns 8,254 shares of the offshore drilling services provider’s stock worth $138,000 after buying an additional 242 shares in the last quarter. Mason Street Advisors LLC lifted its position in shares of Diamond Offshore Drilling by 1.2% during the 1st quarter. Mason Street Advisors LLC now owns 30,457 shares of the offshore drilling services provider’s stock worth $509,000 after buying an additional 368 shares in the last quarter. State Treasurer State of Michigan lifted its position in shares of Diamond Offshore Drilling by 1.5% during the 2nd quarter. State Treasurer State of Michigan now owns 26,600 shares of the offshore drilling services provider’s stock worth $288,000 after buying an additional 400 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Diamond Offshore Drilling by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 27,200 shares of the offshore drilling services provider’s stock worth $295,000 after buying an additional 400 shares in the last quarter. Finally, Texas Permanent School Fund lifted its position in shares of Diamond Offshore Drilling by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 47,088 shares of the offshore drilling services provider’s stock worth $510,000 after buying an additional 410 shares in the last quarter.

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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