Diamond Offshore Drilling, Inc. (DO) Scheduled to Post Quarterly Earnings on Monday
Diamond Offshore Drilling, Inc. (NYSE:DO) will announce its earnings results before the market opens on Monday, October 30th. Analysts expect the company to announce earnings of $0.28 per share for the quarter.
Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.21. The firm had revenue of $399.30 million for the quarter, compared to analyst estimates of $381.50 million. Diamond Offshore Drilling had a return on equity of 5.77% and a net margin of 11.19%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. On average, analysts expect Diamond Offshore Drilling to post $0.91 EPS for the current fiscal year and $0.19 EPS for the next fiscal year.
Diamond Offshore Drilling, Inc. (NYSE DO) opened at 15.28 on Monday. Diamond Offshore Drilling, Inc. has a 12-month low of $10.06 and a 12-month high of $22.65. The firm’s 50-day moving average price is $14.08 and its 200 day moving average price is $12.88. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 12.42 and a beta of 1.19.
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A number of equities analysts have recently issued reports on DO shares. Clarkson Capital raised shares of Diamond Offshore Drilling from a “neutral” rating to a “buy” rating in a research report on Friday, September 1st. Cowen and Company reissued a “hold” rating and set a $11.00 price objective on shares of Diamond Offshore Drilling in a research report on Tuesday, September 5th. Bank of America Corporation cut shares of Diamond Offshore Drilling from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $12.00 in a research report on Friday, June 30th. Jefferies Group LLC reissued a “hold” rating and set a $12.00 price objective (down previously from $14.00) on shares of Diamond Offshore Drilling in a research report on Tuesday, July 18th. Finally, BidaskClub raised shares of Diamond Offshore Drilling from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Nine equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $14.60.
Diamond Offshore Drilling Company Profile
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.
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