Q4 2017 EPS Estimates for Diamond Offshore Drilling, Inc. (DO) Decreased by Jefferies Group
Diamond Offshore Drilling, Inc. (NYSE:DO) – Research analysts at Jefferies Group lowered their Q4 2017 earnings per share (EPS) estimates for shares of Diamond Offshore Drilling in a note issued to investors on Monday. Jefferies Group analyst E. Royes now expects that the offshore drilling services provider will earn $0.02 per share for the quarter, down from their previous forecast of $0.11. Jefferies Group has a “Neutral” rating on the stock. Jefferies Group also issued estimates for Diamond Offshore Drilling’s FY2018 earnings at $0.15 EPS, FY2019 earnings at ($0.45) EPS and FY2020 earnings at ($1.05) EPS.
Several other research analysts also recently commented on the stock. ValuEngine raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Clarkson Capital raised shares of Diamond Offshore Drilling from a “neutral” rating to a “buy” rating in a report on Friday, September 1st. Deutsche Bank AG started coverage on shares of Diamond Offshore Drilling in a report on Tuesday, October 10th. They issued a “hold” rating and a $15.00 price target for the company. Royal Bank Of Canada set a $15.00 price target on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a report on Saturday, October 7th. Finally, Zacks Investment Research downgraded shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Nine research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $14.48.
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Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $366.02 million during the quarter, compared to analysts’ expectations 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 was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share.
Large investors have recently bought and sold shares of the stock. Raymond James Trust N.A. bought a new stake in Diamond Offshore Drilling during the second quarter worth about $118,000. BlueMountain Capital Management LLC bought a new stake in Diamond Offshore Drilling during the second quarter worth about $119,000. Zacks Investment Management bought a new stake in Diamond Offshore Drilling during the second quarter worth about $124,000. Victory Capital Management Inc. bought a new position in shares of Diamond Offshore Drilling in the third quarter worth approximately $126,000. Finally, M&T Bank Corp bought a new position in shares of Diamond Offshore Drilling in 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.
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