Diamond Offshore Drilling, Inc. (NYSE:DO) – Equities researchers at FBR & Co lifted their Q2 2018 earnings per share (EPS) estimates for shares of Diamond Offshore Drilling in a report issued on Monday. FBR & Co analyst T. Curran now expects that the offshore drilling services provider will earn $0.06 per share for the quarter, up from their prior forecast of $0.02. FBR & Co currently has a “Hold” rating and a $13.00 price objective on the stock. FBR & Co also issued estimates for Diamond Offshore Drilling’s Q3 2018 earnings at $0.03 EPS, Q4 2018 earnings at ($0.07) EPS and FY2018 earnings at $0.02 EPS.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. The firm had revenue of $366.02 million during the quarter, compared to the consensus estimate of $365.38 million. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS.

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DO has been the topic of several other reports. Jefferies Group LLC reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a report on Tuesday. BidaskClub lowered Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Royal Bank Of Canada upgraded Diamond Offshore Drilling from an “underperform” rating to a “sector perform” rating and set a $15.00 target price on the stock in a report on Friday, August 25th. Piper Jaffray Companies reiterated a “hold” rating and set a $9.33 target price on shares of Diamond Offshore Drilling in a report on Tuesday, September 19th. Finally, ValuEngine upgraded Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Nine analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. Diamond Offshore Drilling presently has an average rating of “Hold” and an average target price of $14.48.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Trust N.A. acquired a new position in Diamond Offshore Drilling during the second quarter worth approximately $118,000. BlueMountain Capital Management LLC acquired a new position in Diamond Offshore Drilling during the second quarter worth approximately $119,000. Zacks Investment Management acquired a new position in Diamond Offshore Drilling during the second quarter worth approximately $124,000. Victory Capital Management Inc. acquired a new position in Diamond Offshore Drilling during the third quarter worth approximately $126,000. Finally, M&T Bank Corp acquired a new position in Diamond Offshore Drilling during the second quarter worth approximately $139,000.

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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