Q4 2017 EPS Estimates for Diamond Offshore Drilling, Inc. (DO) Reduced by Analyst

Diamond Offshore Drilling, Inc. (NYSE:DO) – Analysts at Capital One Financial dropped their Q4 2017 EPS estimates for shares of Diamond Offshore Drilling in a report issued on Monday. Capital One Financial analyst J. Gibney now anticipates that the offshore drilling services provider will post earnings of $0.17 per share for the quarter, down from their previous estimate of $0.22.

DO has been the subject of a number of other reports. ValuEngine upgraded Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Clarkson Capital upgraded Diamond Offshore Drilling from a “neutral” rating to a “buy” rating in a research report on Friday, September 1st. Deutsche Bank began coverage on Diamond Offshore Drilling in a research 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 Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Saturday, October 7th. Finally, Zacks Investment Research downgraded Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $14.71.

Diamond Offshore Drilling (DO) traded up $0.19 during midday trading on Wednesday, hitting $15.88. The stock had a trading volume of 258,492 shares, compared to its average volume of 2,954,932. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.52. The company has a market cap of $2,160.00, a P/E ratio of 9.28 and a beta of 1.31. Diamond Offshore Drilling has a 52-week low of $10.06 and a 52-week high of $22.65.

Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS.

Several large investors have recently added to or reduced their stakes in DO. Teachers Advisors LLC lifted its position in shares of Diamond Offshore Drilling by 4.9% during the first quarter. Teachers Advisors LLC now owns 123,726 shares of the offshore drilling services provider’s stock worth $2,067,000 after purchasing an additional 5,781 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Diamond Offshore Drilling by 4.8% during the first quarter. Geode Capital Management LLC now owns 475,783 shares of the offshore drilling services provider’s stock worth $7,950,000 after purchasing an additional 21,836 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Diamond Offshore Drilling by 1.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 350,175 shares of the offshore drilling services provider’s stock worth $5,852,000 after purchasing an additional 6,313 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Diamond Offshore Drilling by 4.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 23,587 shares of the offshore drilling services provider’s stock worth $255,000 after purchasing an additional 1,014 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Diamond Offshore Drilling by 3.1% during the second quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the offshore drilling services provider’s stock worth $182,000 after purchasing an additional 500 shares during the last quarter.

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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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