Wall Street analysts forecast that Diamond Offshore Drilling, Inc. (NYSE:DO) will announce sales of $343.74 million for the current quarter, Zacks reports. Eight analysts have issued estimates for Diamond Offshore Drilling’s earnings, with the highest sales estimate coming in at $368.00 million and the lowest estimate coming in at $334.00 million. Diamond Offshore Drilling reported sales of $391.87 million in the same quarter last year, which indicates a negative year over year growth rate of 12.3%. The company is expected to issue its next earnings results on Monday, February 12th.

On average, analysts expect that Diamond Offshore Drilling will report full-year sales of $343.74 million for the current fiscal year, with estimates ranging from $1.39 billion to $1.50 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.29 billion per share, with estimates ranging from $1.21 billion to $1.37 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Diamond Offshore Drilling.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings data on Monday, October 30th. The offshore drilling services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $366.02 million for 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 company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS.

A number of brokerages have weighed in on DO. B. Riley restated a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Wednesday, November 1st. Barclays PLC reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a report on Sunday, November 5th. UBS AG increased their target price on Diamond Offshore Drilling from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Jefferies Group LLC reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a report on Tuesday, October 31st. Finally, FBR & Co set a $13.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Monday, October 30th. Eight investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $14.71.

Shares of Diamond Offshore Drilling (DO) opened at $17.38 on Friday. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.52. Diamond Offshore Drilling has a 12 month low of $10.06 and a 12 month high of $22.65. The stock has a market capitalization of $2,406.98, a PE ratio of 10.20 and a beta of 1.31.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schroder Investment Management Group boosted its position in Diamond Offshore Drilling by 90.4% during the third quarter. Schroder Investment Management Group now owns 742,900 shares of the offshore drilling services provider’s stock valued at $10,631,000 after purchasing an additional 352,700 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Diamond Offshore Drilling in the third quarter worth about $521,000. Great West Life Assurance Co. Can lifted its position in shares of Diamond Offshore Drilling by 1.2% in the third quarter. Great West Life Assurance Co. Can now owns 1,065,225 shares of the offshore drilling services provider’s stock worth $15,233,000 after buying an additional 12,564 shares during the last quarter. TD Asset Management Inc. lifted its position in shares of Diamond Offshore Drilling by 10.4% in the third quarter. TD Asset Management Inc. now owns 41,400 shares of the offshore drilling services provider’s stock worth $600,000 after buying an additional 3,900 shares during the last quarter. Finally, Majedie Asset Management Ltd lifted its position in shares of Diamond Offshore Drilling by 121.9% in the third quarter. Majedie Asset Management Ltd now owns 2,570,583 shares of the offshore drilling services provider’s stock worth $37,273,000 after buying an additional 1,412,327 shares during 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.

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

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